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2016-08-18

Quantitative easing's failure current orthodoxy that puts a 2 percent inflation target Mark Gilbert

Quantitative easing's failure to quash the threat of deflation is finance's equivalent of the bump in the data that alerted physicists to the possibility of a new boson. 

he mismatch between economic theory and the real-world outcome of zero interest rates poses a direct challenge to the current orthodoxy that puts a 2 percent inflation target at the heart of monetary policy in most of the developed world.

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