Fed hikes have created ‘paradoxical’ easing – BIS

The Bank for International Settlements, Basel
The Bank for International Settlements, Basel
Photo: Ulrich Roth

The Federal Reserve’s efforts to tighten policy through rate hikes and the run-down of quantitative easing have, if anything, achieved the opposite effect, according to the Bank for International Settlements.

The BIS’s latest quarterly review, published on December 3, highlights a “paradoxical” easing of financial conditions accompanying the tightening of US policy instruments.

In remarks to journalists, Claudio Borio, head of the monetary and economic department at the BIS, noted the Chicago

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