THE DEATH OF MONEY

[...]even if you believe the costs of QE2 were worth its purported benefits, you would be hard pressed to now say that still more liquidity, or more fuel, is called for given the more than $1.5 trillion in excess bank reserves and the substantial liquid holdings above the normal working capital need...

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Bibliographic Details
Published in:The American interest 2012-01, Vol.7 (3), p.5
Main Author: Hartcher, Peter
Format: Magazinearticle
Language:English
Subjects:
Economic conditions
Economic forecasts
Federal Reserve monetary policy
Inflation
Interest rates
Recessions
Online Access:Get full text
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Summary:[...]even if you believe the costs of QE2 were worth its purported benefits, you would be hard pressed to now say that still more liquidity, or more fuel, is called for given the more than $1.5 trillion in excess bank reserves and the substantial liquid holdings above the normal working capital needs of corporate businesses. . [...]this is a policy of uncertain economic benefit, but of a predictable and steep cost.
ISSN:1556-5777
2163-5099