What Scott Sumner thinks about quantitative easing
Monetary economist known for NGDP-level targeting; wrote TheMoneyIllusion.
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2 dated positions, 2010, in their own words. Our reading of what Scott Sumner has said — not written or endorsed by them.
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Our reading · no longer heldAggressive quantitative easing should raise long-term interest rates, because effective monetary stimulus raises them.
No longer holdsI predicted that aggressive QE would raise long term interest rates, a view which seemed to be refuted by the response on T-bond yields to the March 2009 Fed QE announcement.
SaidI predicted that aggressive QE would raise long term interest rates, a view which seemed to be refuted by the response on T-bond yields to the March 2009 Fed QE announcement.
- 1 day earlier
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Their wordsAny effective monetary stimulus would be expected to raise long term rates.