BIS paper finds Fed’s QE had little discernible impact on real economy
Results "cast some doubt" on effectiveness of QE
Research published on January 17 by the Bank for International Settlements (BIS) finds "no statistically significant real impact" from bond purchases by the US Federal Reserve in the post-2008 period.
The working paper focuses on the role of stock and bond market volatilities in determining the US 10-year term premium. The results suggest that while quantitative easing (QE) did have a "sizeable" negative impact on expected stock and bond market volatilities, there was no statistically
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