QE wouldn’t have made any difference because lower rates won’t fix the economy

The big news in the US today was the Federal Reserve's Open Market Committee's decision to extend its simultaneous purchase of longer-dated Treasuries and sale of shorter-dated ones. This effort, dubbed Operation Twist, was set to expire at month's end and so, with weakening growth in the US, the Fed decided to lengthen the program through the end of the year. The FOMC decided to keep the operation relatively small, opting for $267bn. This intervention comes after the Bank of England's minutes r...


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