central bankers comment on QE
February 28, 2011 at 07:08 AM EST
Recent statements regarding QE show at least some key Central Bankers have it right: Don Kohn (Former FRB Vice Chair):”I know of no model that shows a transmission from bank reserves to inflation”. Vitor Constancio (ECB Vice President): “The level of bank reserves hardly figures in banks lending decisions; the supply of credit outstanding is determined by [...]