Doug Kass on the Market: A Life on TheStreet by Douglas A. Kass

Author:Douglas A. Kass [Kass, Douglas A.]
Language: eng
Format: azw3
ISBN: 9781118892985
Publisher: Wiley
Published: 2014-11-04T16:00:00+00:00

More on Screwflation

10/20/2010

“In my darkest moments, I have begun to wonder if the monetary accommodation we have already engineered might even be working in the wrong places.”

—Dallas Fed President Richard Fisher

We all recognize the intended theoretical benefits of QE2:

Lower real intermediate- and long-term interest rates are expected to stimulate credit-sensitive spending. Authorities expect housing and refinancing activity to expand (through lower mortgage rates), and a rate reduction is forecast to reduce the consumers' debt service expense.

Higher stock prices are expected to buoy personal consumption spending through the wealth effect and reduce the cost of capital to corporations.

A lower U.S. dollar narrows our trade deficit.

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