Central banks need new rules

Quantitative easing requires central banks to take huge gambles. The Federal Reserve's announcement on 3 November that it would pump another $600 billion into the US economy before end June 2011 has divided leading monetary economists. The attempt deliberately to engineer expectations of higher inflation when there was no sign of deflation would have made a former generation of central bankers spin in their graves. Nobody can say with confidence whether it will achieve its objectives or not; the

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.