Raghuram Rajan: Why The Banking Crisis Isn’t Over
Capitalisn't
The Negative Effects of QE
"We don't need to take a stand on that. What we're saying is whatever the monetary policy sort of reason for doing QE, you're actually increasing financial stability risks in the system," he said. "Even if you've got trillions of reserves above the level you were at previously, that's because the Fed, the commercial banks are taking what you give and saying, we're going to use it all."
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