Fed research asserts ‘potency’ of quantitative easing
A working paper published by the Federal Reserve in December suggests large-scale asset purchases have significantly eased monetary conditions in the United States.
Authors Stefania D'Amico, William English, David Lopez-Salido and Edward Nelson studied economic conditions prevailing before the Fed introduced its first round of quantitative easing (QE) in 2009, finding that Treasury yields fell 35 basis points after QE1 and 45 basis points after QE2. This, they say, roughly equates to a rate cut
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