Brad DeLong on QE
A couple of commenters have chastised me for underestimating the risks of QE. I asked, what risks? Attempts to answer me have apparently been defeated by the sinister DISQUS cabal. Brad DeLong asks much the same question:
Federal Reserve an[d ]other central-bank policymakers who believe that further extension of quantitative easing policies poses risks need to explain exactly what those risks are and why we need to guard against them now. If not--if the risks impelling the end of quantitative easing are left vague--then central banks will continue to fail to successfully build a firewall between their policies with respect to the size of their balance sheet and their policies with respect to the future path of interest rates.