Andrew Levin on the Costs and Benefits of QE4 and the Future of the Fed's Balance Sheet
Macro Musings with David Beckworth
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Qe
If you had to pick a time period where they should have stopped, in real time is 2020. The benign scenario was one where the development of vaccines happens very quickly. Vaccines start to be distributed by the end of 2020. The economy is recovering quite briskly. And that was a scenario where inflation might actually pick up above the Fed's target.
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