Quantitative Easing Good for the US, but not the Rest of the World
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- 2015.03.05
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- 2012.08
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In 2008, the US experienced a significant economic recession.That year, Gross Domestic Product(GDP) grew by only 1.1%, and in 2009 itdeceased to -5.7%. In addition, the unemployment rate was 8.9%, which was the highest rate ever (Bureau of Labor Statistics, 2013). Thus, the Federal Reserve System (the Fed), the central bank of theUSA, decided to implementthe Quantitative Easing (QE) policy. Monetary policy refers to a central bank controlling the money supply when the economyand its key control mechanism arein counteracting recessions and overheated economies. QE is a monetary policy that involves increasingmoney supplies to boost an economy during a recession, when current levels are not sufficient to sustain robust growth.The idea of QE is this: If the economy is suffering a recession, central banks need to supply more money for people to use. The argument for QE is that when people have money, they will spend it more so that total consumption and investment will increase, and the economy can escape from recession.
참고 자료
Brandimarte, Walter. “EMERGING MARKETS—Brazil Real Rises on Central Bank's Moves”. CNBC. 3 Dec. 2013. Web. 15 Apr. 2013.
Cox, Jeff. “Fed Keeps Easing, Not worried About Stock Bubble”. CNBC Economy. 20 Mar. 2013. Web. 11 Apr. 2013.
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“Unemployment Rate.”Bureau of Labor Statistics Data. 16 Mar. 2013. Web. 12 Apr. 2013.
“Press Release.”Board of Governors of the Federal Reserve System. 20 Mar. 2013. Web. 11 Apr. 2013.
