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The Recession Paradox | Alfonso Peccatiello
Forward Guidance
The Fed's Quantitative Easing Effect on Banks
Quantitative easing increases bank reserves in Treasury General account, but it doesn't decrease bank reserves in the system. These reserves are then used to purchase bonds, which means reserves remain flat. Real economy money printing is not happening through quantitative easing,. It's happening through fiscal deficit. Fiscal deficit increased the amount of bank deposits that Jack Farley has; that's inflationary money.
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