OECD Economic Review Chair Warns, Central Bankers “Are Doing More Harm Than Good, Policy Must Be Reversed”
by Tyler Durden
ZeroHedge.com
03/31/2015
“I fear that central bankers may have been inadvertently drawn into what they are currently doing… [QE] won’t work and may have many undesired side effects that will build up over time. Many of the central bankers at Davos this year said explicitly that they were only buying time for governments to act but, seven years into the crisis, it already seems we have been waiting forever… the effectiveness of monetary policy in terms of stimulating aggregate demand goes down with time, because you’re constantly bringing spending forward from the future… Logically, at this point, central bankers should say, “We are doing more harm than good. This policy must be reversed.” But I don’t see anybody actually doing it.”
The Rest…HERE
