I was on BNN's Headline with Howard Green yesterday talking about the Fed's QE program. I said that QE would be tapered and I believe it will likely end at the end of this year if the economy does not slip into recession. This is the timetable I felt was likely when I last spoke to BNN about QE a couple of months ago when commenting on Bill Gross' view that QE would last through at least 2013.
See the video clip here.
Today we got confirmation that this view is accurate via the Fed minutes. Tim Duy has the details here.
On the BNN program I said that the QE program presented challenges from two sides. First, the Fed is using monetary policy to counteract a fiscal drag that is actually increasing. And so, while the jobs numbers over the past six months have been relatively robust in th...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.