Costs to QE? They're hard to find, writes Jon Hilsenrath, delivering a defense of The Chairman...
Costs to QE? They're hard to find, writes Jon Hilsenrath, delivering a defense of The Chairman ahead of his Jackson Hole speech on Friday. Inflation? It hasn't materialized. The greenback? Its value has increased vs. a basket of other currencies. Bubbles? They don't exist, he contends, forgetting the Fed always says bubbles don't exist right up to the moment they blow up in our faces.
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