New York seminar: a decade of quantitative easing

Banking, Events, Conferences,Forums and Symposiums, Finance — By on September 28, 2018 at 2:01 PM


New York seminar: a decade of quantitative easing

 A decade after the unfolding of the 2008 financial crisis, The OMFIF Foundation is organising a seminar in New York to assess the longer-term effects of quantitative easing implemented to combat the ensuing downturn and dip in inflation.
In a pre-seminar briefing note discussing the consequences, Mark Sobel, a former senior US Treasury official, now OMFIF US chairman, who is chairing one of the panels, comments: ‘The overriding question is whether QE worked and whether it was worth it.’ Ben Broadbent, deputy governor for monetary policy at the Bank of England, who is speaking at the seminar, says post-crisis asset purchases ‘seem to have had a significant impact on economic activity,’ but underlines lack of precision in estimating the results. Barry Eichengreen, professor of economics at Berkeley School of Economics, another speaker, points to uncertainties about whether QE would be used again. Natacha Valla, deputy director general for monetary policy at the European Central Bank, says the expected effects of QE ‘were vindicated by the facts’.

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