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The Role of the Federal Reserve in Quantitative Easing
Some argue that quantitative easing was done so aggressively because of the long positions and off the run treasuries. The dislocation between the two was so large that there had to be sort of sort of a bailout. What are your thoughts on that? I think they did not really. Even if you saw what was happening in a major economy, the idea to ease and then push out money to people start there. That made a lot of sense both I think at the moment and retrospectively.