James Bullard's Five Easy Pieces of Quantitative Easing
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The Fed has drawn intense criticism for its decision to purchase $600 billion in long-term Treasuries over the next eight months. This approach, so-called quantitative easing, is aimed at keeping long-term interest rates suppressed. Speaking at NYSSA, James Bullard, the president and chief executive officer at the Federal Reserve Bank of St. Louis, explained the rationale behind the Fed's decision.