QE solution at zero bound: NY Fed paper
A New York Federal Reserve paper co-authored by Brian Sack, the executive vice-president of the Markets at the regional Fed, published on Wednesday, finds evidence in support of the Federal Reserve's quantitative easing programme.
Sack, Joseph Gagnon, Matthew Raskin and Julie Remache, the paper's authors, review the Federal Reserve's experience with implementing its large-scale asset purchases between late 2008 and March 2010 when the federal funds rate was at the zero bound.
The authors find
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