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This is just not true, QE caused massive inflation in asset classes. People just didn't complain about that because it made them feel richer, but it widened the
by partiallypro 4y ago
This is just not true, QE caused massive inflation in asset classes. People just didn't complain about that because it made them feel richer, but it widened the gap between rich and poor. People that have investments are much more worried about a Fed policy mistake by being too tight, but rarely if ever complain about it being too loose. I'm sure some MMTers wish we were still at 1.5% in complete denial that monetary policy matters a LOT to inflation, in fact usually being the main driver...which every monetary theorist basically agrees on.