#10: William White on the Undesired Side Effects of Experimental Monetary Policy
Superinvestors and the Art of Worldly Wisdom
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The Effects of Quantitative Easing on Demand
The main effect that I see from quantitative easing is they were able to create a wealth effect by boosting financial prices of financial assets. Although it probably didn't have the economic impact that they hoped, it only stands to reason that if you unwind those policies, you risk unwinding those effects as well. They're trying to thread a needle by scaling back these emergency experimental policies after a decade without undoing the good effects that they created.
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