Struck down by a covert QE

As US Fed minutes dampen investor hopes of QE3, unofficial 'easing' programs are hurting American living standards, Hoisington's Lacy Hunt has warned.

Global sharemarkets were hit hard overnight as investors began to lose confidence that the US central bank would soon embark on another bout of bond buying in an attempt to spur economic activity.

Minutes from the March 13 meeting of the US Fed’s policymaking committee, which were released overnight, appeared to indicate that the US central bank had no plans to launch a new bond buying program – known as quantitative easing.

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