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January 11, 2014

'Bravo for Bernanke and the QE Era'



Austin Goolsbee:
Bravo for Bernanke and the QE Era, by Austan Goolsbee, Commentary, WSJ: ...critics of quantitative easing have condemned the expansion of the balance sheet at the Federal Reserve as risking a hyperinflation, have panned the "forward guidance" of the Fed promising low rates well into the future as ineffectual and dangerous, and have even mocked the Fed's new more-open communications strategy and the chairman's news conferences as demeaning to the office.
As Mr. Bernanke prepares to depart at the end of January and the Fed has initiated the exit-strategy countdown with the start of tapering, it is time to take stock of the QE Era—and time for the critics to admit they were wrong...,the critics were wrong that QE would cause inflation and harm the economy. ...
The research indicates that these Fed policies have helped the economy, albeit modestly. ...

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