Last week, in his final press conference as Chairman of the Federal Reserve, Ben Bernanke announced that the Fed would be ‘tapering’ its program of buying Treasury and mortgage-backed securities (also known as quantitative easing or QE) by $10 billion a month starting January. Steven Horwitz argues that this move has been long overdue as the Fed’s policy of QE […]
In June, much to the consternation of financial markets, the Chairman of the Federal Reserve, Ben Bernanke, warned that the current program of Quantitative Easing (QE) would likely to come to an end in 2014. But has this measure been effective in stimulating recovery? Looking at QE’s record, Steven Horwitz argues that by paying a small amount of interest on […]
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