Quantitative Easing

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http://ftalphaville.ft.com/blog/2011/08/12/652166/the-feds-secret-qe-equivalent/

Anyone catch this from the New York Fed on Friday? It’s hugely important: Beginning Monday, August 15, the New York Fed intends to conduct another series of small-scale reverse repurchase (repo) transactions using all eligible collateral types.

Alphaville » The Fed’s secret QE equivalent

La trappe du taux d’intérêt « Zéro » | Contrepoints

Le taux de croissance de la masse monétaire (M3) aux États-Unis est faible. Le niveau extrêmement faible du taux des fonds fédéraux (0,25%) a étouffé la croissance monétaire qui, à son tour, a étouffé l’activité économique.

https://www.contrepoints.org/2011/07/02/33294-la-trappe-du-taux-dinteret-zero

www.newyorkfed.org/research/staff_reports/sr380.pdf

https://www.contrepoints.org/2010/11/09/6779-que-penser-duquantitative-easing-2

Les banquiers centraux sont friands de jargon complexe pour exprimer des idées simples, et le Quantitive Easing ou « assouplissement quantitatif » est un bon exemple. Aux USA, cela signifie que la banque centrale, la Federal Reserve , va acheter des bons à long terme du Trésor américain.

Que penser du Quantitative Easing 2 ? | Contrepoints

http://www.thoughtofferings.com/2010/10/how-loanbond-choice-helps-private.html

NOTE: Just to be clear, this post does not describe any established theory.

Thought Offerings: How the Loan/Bond Choice Helps the Private Sector Self-Determine the Money Supply — AND Yet Another Reason QE is a Non-Event for the Economy

http://lebleu.org/blog/2011/04/28/qe-creating-an-opportunity-for-peer-to-peer-lending-and-crowdfunding/

Guillaume’s blog » Blog Archive » QE creating an opportunity for peer-to-peer lending and crowdfunding

Thoughts Offerings blog has an interesting piece on how QE actually does not encourage traditional bank lending via deposit creation, but instead encourages lending through security issuance. I recommend the reading, it ties a lot of things together neatly.

http://krugman.blogs.nytimes.com/2010/10/25/monetary-base-and-short-term-debt-ultra-wonkish/

Some people have quarreled with my statement of this equivalence. It’s true, they say, that monetary base and Treasury bills both yield near-zero interest rates. But monetary base is money — it provides liquidity in a way that T-bills, no matter how negotiable, don’t.