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America’s foremost expert in monetary policy, Professor Allan Meltzer, said:
Of which concludes that if they stop printing money, the house of cards will collapse
Credenciais do professor de economia:
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| Professor Allan Meltzer |
America’s foremost expert in monetary policy, Professor Allan Meltzer, said:
- The Federal Reserve’s loose monetary policy — quantitative easing, purchases of bonds — is resulting in record-low interest rates, so investors are taking risks to get higher yields. The Fed spends $85 billion a month purchasing Treasury bonds and mortgage-backed securities. That’s the amount of the entire sequester for fiscal year 2013.
- Older people, many of whom rely on income from savings and investments, are moving into riskier assets in order to be able keep up their standards of living. Many have no choice. Low interest rates discourage savings and encourage people to take high risks, as well as dampening bank lending. This does not lead to a healthy economy. It ends in tears and regrets.
Of which concludes that if they stop printing money, the house of cards will collapse
Credenciais do professor de economia:
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