Altogether, the empirical studies of recent years suggest that large-scale asset purchases can affect real economic outcomes via a bank lending channel. Like an interest rate cut in a conventional monetary policy setting, QE can lead to additional bank lending, which in turn translates into additional economic activity.
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It overlooks: (1) increased moral hazard; (2) bailed out Wall Street at the expense of Main Street; and (3) kills the retirement savings of retirees and soon to be retirees.
The only answer is to END THE FED!
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