Time to end the taper caper

A former Federal Reserve board member says it's time to completely unwind QE and give the incoming chair a clean slate.

A former US Fed official has suggested a policy prescription that will horrify markets. He suggests the incoming Fed Chair should immediately start unwinding quantitative easing and decisively wean markets off their addiction to liquidity. Not that it would matter to ordinary citizens because, according to this former board member, QE has had little impact anyway.

The sub-par recovery in the US is proof that the direct effect of quantitative easing has been minimal said Dr. William Poole, former president of the Federal Reserve Bank of St. Louis, at a CFA Institute investment conference.

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