St Louis Fed: central banks must plan credible QE exit
A St Louis Federal Reserve paper published on 11 November says quantitative easing is only effective if the public believe the central bank can credibly withdraw monetary stimulus in the future.
Richard Anderson, Charles S. Gascon, and Yang Liu, the paper's authors, examine the experience of central banks responding to the recent financial crisis. They also look at the experiences of Nordic central banks that used large scale balance sheet expansion as a monetary policy instrument in response to
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