Quantitative easing will do little to boost the U.S. economy, says economist Joseph Stiglitz....
Quantitative easing will do little to boost the U.S. economy, says economist Joseph Stiglitz. Instead, it risks triggering currency and trade wars that will leave the world worse off. Rather than unilateral action, the world needs a “growth compact” aimed at spurring economic expansion around the world. He had hoped that G20 leaders would have started addressing the topic at the summit in Seoul, but now he feels the meeting will be spent dealing with the unintended consequences of the Fed’s action.
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