It wasn't long before my old doubts resurfaced. Despite the Fed's rhetoric, my program wasn't helping to make credit any more accessible for the average American. The banks were only issuing fewer and fewer loans. More insidiously, whatever credit they were extending wasn't getting much cheaper. QE may have been driving down the wholesale cost for banks to make loans, but Wall Street was pocketing most of the extra cash.
http://www.zerohedge.com/news/2013-11-12/former-fed-quantitative-easer-confesses-aplogizes-i-can-only-say-im-sorry-america
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment