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Fed Governor admits Fed is already engaged in quanatative easing
The Federal Reserve is already engaged in unorthodox “quantitative easing” and should prepare for the possibility that more extreme measures could be needed to guard against deflation, Don Kohn, its vice-chairman, said on Wednesday.
“We have already engaged in forms of quantitative easing,” Mr Kohn told the Cato Institute, a think-tank. He said the US central bank should consider “what other forms of quantitative easing might happen as a contingency plan”.
Strictly speaking, this is not outright quantitative easing because the Fed continues to mop up the excess reserves it creates to keep the target interest rate positive. But the central bank…
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