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Title:US "quantitative easing" is fracturing the global economy PDF Logo
Authors:Hudson, Michael
Issue Date: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
Document Type:Working Paper
Appears in Collections:Working Papers, Levy Economics Institute of Bard College

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