144 – Peter Stella on Debt, Safe Assets, and Central Bank Operations
Macro Musings with David Beckworth
00:00
The Fed's Large-Scale Asset Purchases Are QE
The Fed by doing these large-scale asset purchases are QE. They effectively drained liquidity out of the system, you say. So in your view then, what was the net effective large-scale Asset Purchases? You had maybe some reduction, there's been debate on this. There's some reduction in long-term yields, long-term treasury rates,. But it's offset by this concern you just raised. How do you view the net effect?
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