CPI, Empire, and Bernanke’s managing of expectations
July 15, 2011 at 11:54 AM EDT
Right, core is giving Bernanke ‘cover’ to not do any more QE. I think he now realizes QE doesn’t actually do anything positive for the economy, as all his staff studies show. Yes, it can lower term rates a tad, but it also removes interest income as he himself seemed to have recognized in his [...]