13 - Joseph Gagnon on Quantitative Easing in the United States and Abroad
Macro Musings with David Beckworth
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The Fed's QE Programs
You were part of the federal reserve during at least part of its quantitative easing programmes. Tell us what is cuee and how is it supposed to work? Well, so i'd justd lhet te give you a background and nocack. O, well, let's move on toa area youre well known: The fed's large scale asset purchase programs. And that's where it went out and bought lots of treasuries and mortgage back securities. We all thought tey couldn't go below zero, which is sort of interesting, because now we're seeing maybe it can go below zero. But at the time it didn't even occur to us it could gothe re
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