Bill English on the Effectiveness of QE and the Consequences of Fed Losses
Bill English is a professor at Yale University, a former senior Fed staffer, and a veteran of the Bank for International Settlements. Bill joins Macro Musings to talk about his time at the Federal Reserve, recent Fed developments, and a paper he co-authored titled, “What If the Federal Reserve Books Losses Because of Its Quantitative Easing?” David and Bill also discuss the Fed’s recent low-inflation mandate, the QE effectiveness debate, and why we should and shouldn’t be concerned about Fed balance sheet losses.
Transcript for the episode can be found here.
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Related Links:
*What if the Federal Reserve Books Losses Because of its Quantitative Easing?* by William English and Donald Kohn
Macro Musings: *Donald Kohn on Fed Policy from the 1970s to Today*
*Think of Powell as Volcker’s Wannabe Second Coming* by John Authers