Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/57071
Authors: 
Hudson, Michael
Year of Publication: 
2010
Series/Report no.: 
Working paper, Levy Economics Institute 639
Abstract: 
The Federal Reserve's quantitative easing is presented as injecting $600 billion into the economy. But instead of getting banks lending to Americans again - households and firms - the money is going abroad, through arbitrage interest-rate speculation, currency speculation, and capital flight. No wonder foreign economies are protesting, as their currencies are being pushed up.
Subjects: 
exchange rates
asset-price inflation
monetary policy
JEL: 
E50
E58
F34
F42
G12
Document Type: 
Working Paper

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