Requiem for QE

A new study from former St. Louis Fed vice president Daniel L. Thornton analyzes the shaky theoretical foundations of QE, and explores the wide range of risks, instability, unintended consequences, and problems quantitative easing has brought to our financial system. “Ultimately,” says Thornton, “QE did little good and likely sowed the seeds for future economic problems.”

Cato Studies

Requiem for QE

By Daniel L. Thornton. Policy Analysis No. 783. November 17, 2015.

Of Special Note

WSJ: “Libertarian Think Tank is Spoiling for a Fight with the Fed”

Libertarian Think Tank is Spoiling for a Fight with the Fed

The Wall Street Journal covered the launch of Cato’ new Center for Monetary and Financial Alternatives. From author Ben Leubsdorf:

“The new center is the latest manifestation of growing public and academic attention on the Fed and central banking after the 2008 financial crisis. …Critics have variously accused the Fed of bailing out fat-cat Wall Street bankers, harming Americans who rely on interest from their savings, distorting the flows of the free market, failing to generate sustainable economic growth and flirting with out-of-control inflation and a debased currency.”

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In the News

This Nobel Is No Prize

Center for Monetary and Financial Alternatives mentioned, along with CMFA Director George Selgin, in this Barron’s piece from Gene Epstein on the Nobel Prize in Economics.

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33rd Annual Monetary Conference

33rd Annual Monetary Conference
Rethinking Monetary Policy

The distinguished speakers at this conference considered the risks of unconventional monetary policy, the steps that need to be taken to normalize policy, and the fundamental question of rules versus discretion in the conduct of monetary policy.

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