QE3?s nasty surprises

 

The Federal Reserve’s new round of Quantitative Easing (QE3) consists of purchasing $40 billion worth of mortgage-backed securities every month and injecting corresponding liquidity into the system. After Mr. Draghi at the European Central Bank used the term ‘unlimited’ to characterise his intervention one week earlier, Mr. Bernanke used the term ‘open-ended’. That means ‘no end in sight’. In parallel, the ‘Zero Interest Rate Policy’ will be maintained until mid-2015.

QE1 and QE2 have not produced the predicted growth, so we’re left wondering: why a new round of QE?

Read the full blog post here

Source: http://www.iea.org.uk/blog/qe3%E2%80%99s-nasty-surprises

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