"The US has run out of bullets. More QE is not going to make any difference," said Nouriel Roubini, our Dr Gloom.
"I really don't think there is a lot the Fed can do," said Harvard's Martin Feldstein.
"The benefits of additional QE are quite small," said Stanford's John Taylor, of the Taylor rule.
The Fed has an arsenal of neutron bombs if it wants to use them, and uses them correctly. It can engage in "monetary policy a l'outrance" as Maynard Keynes propsed in his Treatise on Money in 1930, before he lost his way with the General Theory.
http://www.telegraph.co.uk/finance/...king-hold-among-Americas-economic-elites.html
"I really don't think there is a lot the Fed can do," said Harvard's Martin Feldstein.
"The benefits of additional QE are quite small," said Stanford's John Taylor, of the Taylor rule.
The Fed has an arsenal of neutron bombs if it wants to use them, and uses them correctly. It can engage in "monetary policy a l'outrance" as Maynard Keynes propsed in his Treatise on Money in 1930, before he lost his way with the General Theory.
http://www.telegraph.co.uk/finance/...king-hold-among-Americas-economic-elites.html