Monetary Policy & Inflation | Rates
Frances Coppola on the Macroeconomics of Helicopter Drops (Macro Musings, 60 mins) Frances Coppola, former banker and financial author discusses her new book, The Case for People’s Quantitative Easing. It’s an in depth analysis of Quantitative Easing as a stimulus method and reason it hasn’t worked well. Coppola claims that QE stimulus is essentially indiscriminate and Central Banks are gifting net financial assets into the hands of the private sector. That sector in turn tends to save in a crisis and hang onto the cash. QE, Coppola argues, must be designed to be spread thinner in order to have any impact on aggregate demand…
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