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Protect Your Money From the QE Delusion
While this week's announcement of a massive new QE program by the European Central Bank (ECB) was the worst kept secret in the world, it may not produce the results that everyone expects.
For one thing, while the immediate reaction was to push European interest rates lower, recent experience in the US shows that QE results in higher rates.
And while everyone is talking about deflation - and Europe is definitely experiencing deflation - the US is still experiencing inflation that could lead the Fed to start raising rates by summertime.
While this week's announcement of a massive new QE program by the European Central Bank (ECB) was the worst kept secret in the world, it may not produce the results that everyone expects.
For one thing, while the immediate reaction was to push European interest rates lower, recent experience in the US shows that QE results in higher rates.
And while everyone is talking about deflation - and Europe is definitely experiencing deflation - the US is still experiencing inflation that could lead the Fed to start raising rates by summertime.