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Politics : Mainstream Politics and Economics
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To: Joe Btfsplk who wrote (53851)9/25/2013 11:55:50 PM
From: FJB  Read Replies (1) of 85487
 
Stephen Roach On Inequality And The Fed's "Treacherous Endgame"

Submitted by Tyler Durden on 09/25/2013 - 20:04The Federal Reserve continues to cling to a destabilizing and ineffective strategy. By maintaining its policy of quantitative easing (QE) – which entails monthly purchases of long-term assets worth $85 billion – the Fed is courting an increasingly treacherous endgame at home and abroad. By now, the global repercussions are clear, falling most acutely on developing economies with large current-account deficits. But there is an even more insidious problem brewing on the home front - wealth effects are for the wealthy (as the Fed knows too well). QE benefits the few who need it the least. That is not exactly a recipe for a broad-based and socially optimal economic recovery.
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