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| Title: | | US "quantitative easing" is fracturing the global economy  |
| 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 |
| JEL: | | E50 E58 F34 F42 G12 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Working Papers, Levy Economics Institute of Bard College
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