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Study: Quantitative easing has saved US $1 trillion in debt

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The U.S. government has saved more than $1 trillion in debt since 2007 because of the actions taken by the Federal Reserve to stimulate the economy, a new report from the McKinsey Global Institute finds. By keeping short-term rates near zero and engaging in large-scale asset purchases known as quantitative easing, the Fed also boosted U.S. banks' net interest income by $150 billion, the...