John H. Cochrane

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Is QE2 a Savior, Inflator or a Dud?

Bloomberg.com (Booth "Business Class" Series). Local copy Why quantiative easing has no direct effect. It slightly shortens the maturity structure of Government debt, which makes us more vulnerable to a run. Most of all, it is a big mistake for the Fed to claim to be in charge of everything when it's really powerless.

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