4 ms·
QE is effectively an interest-rate cut but for long-term bonds rather than short term. It would typically be used in conjunction with control of the overnight r
by mitthrowaway2 4y ago
QE is effectively an interest-rate cut but for long-term bonds rather than short term. It would typically be used in conjunction with control of the overnight rate, which still struggles with the zero-lower-bound unless the ability to hold cash is removed from the system.