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It’s Time for the Fed to Slay Its Quantitative-Tightening Demons
The Federal Reserve’s asset purchase program, known as quantitative easing, has twice helped save the US economy — first during the financial crisis and then again with the Covid-19 pandemic. Its long-term viability depends on policymakers’ ability to shut it down when it’s no longer needed, without injecting unnecessary volatility into markets. That makes........
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