Consider the following statement:
“Nevertheless, balance sheet policy can still lower longer-term borrowing costs for many households and businesses, and it adds to household wealth by keeping asset prices higher than they otherwise would be.”
So said Brian Sack, the head of the New York Fed’s markets group.
Marketbeat responded with a post titled: Dear Conspiracy Crackpots: Here’s How QE Works.
Gluskin Sheff’s David Rosenberg called it “irresponsible at best, dangerous at worst.”
Discuss . . .