Fed’s Stein highlights benefits of mortgage-backed QE
Jeremy Stein, a member of the Federal Reserve board of governors, has explained why the Federal Reserve's policy of purchasing mortgage-backed securities rather than Treasury securities produces greater macroeconomic stimulus.
Speaking at a conference in Boston on November 30, Stein discussed quantitative easing (QE) policies and distinguished between the effects of purchasing different securities, suggesting mortgage-backed purchases produce more of a "kick" to corporate investment.
Large-scale
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