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The distinction is clear between helicopter money and quantitative easing

QE easing by the Federal Reserve and the world’s other major central banks spawns asset price inflation and excessive risk taking. 

In turn, that sets up the stage for sharp asset price corrections when central banks start trying to normalise monetary policy, which has the real potential to deal a body blow to the global economy.

By contrast, helicopter money of the variety proposed by Milton Friedman some three decades ago does not involve central bank asset purchases

Desmond Lachman
American Enterprise Institute,

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