QE2 reduced deflation threat: NY Fed’s Sack

brian-sack-nyfed

Brian Sack, the executive vice-president at the New York Federal Reserve, on Thursday said evidence suggested the Federal Reserve's second quantitative easing programme successfully reduced the threat of deflation in the United States.

At the Money Marketeers of New York University, New York City, Sack said: "The downside risks to inflation had become quite threatening by last summer. Breakeven inflation rates had moved to levels that were well below those consistent with the Federal Open Market

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