....Did Macpherson say this when he was working for Alastair Darling, who originally gave the Bank of England permission to start QE, or George Osborne, who said the economy needed more of it? We won’t know that until the records of the Great Recession and its aftermath are released in a couple of decades, but if he did the warning was not heeded. The best that can be said for QE is that it helped prevent an even deeper slump in the winter of 2008-09 but was of less importance than the re-capitalisation of the banks and the deep, co-ordinated cuts in interest rate
s from central banks. ...
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Monday 21st of August 2017 05:44:24 PM