Quantitative Easing: A Requiem
In an effort to combat the Great Recession, the Federal Reserve embarked on an unprecedented program of quantitative easing (QE) — the large-scale purchase of financial assets using freshly created money. The idea was to lower interest rates, encourage spending and investment, and thereby boost growth and jobs. By late 2014, the Fed had added more than $3.5 trillion to its books — effectively quintupling the size of its balance sheet. But did it work? Did QE boost growth and jobs? Did it save the American economy from the abyss? Читать дальше...