UBS On-Air: Paul Donovan Daily Audio 'Proper policy from the Fed'
Update: 2020-12-17
Description
The Federal Reserve pledged to continue to supply liquidity as long as there is a need for liquidity. There was no attempt to push down longer-term interest rates?these are not limiting economic growth. The policy reinforces the idea that the Fed will not allow inflation to get out of hand. Printing money never creates inflation?it is printing too much money that creates inflation. If liquidity supply is driven by the needs of the economy, this should keep inflation in normal ranges.
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