Fund fiscal policy, not greedy banks

Central bankers have handed trillions to banks who have used it to boost profits and bid up asset prices. Using it to fund government spending is a much better idea.

Since the beginning of the global financial crisis, many central banks have tried unconventional monetary policy and the results have not been great. The Federal Reserve’s quantitative easing program arguably gained some traction on its third attempt, but efforts by the European Central Bank and Bank of Japan have been in vain.

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