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Economics Unbound: How Quantitative Easing works – Ann Pettifor

Summary:
In their first round of quantitative easing in the initial response to the crisis, the American central bank called the US Federal Reserve did so by buying back securities in the secondary market. And by the time that the US in late 2014 wound down the buying program the balance sheet of their central bank ...

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In their first round of quantitative easing in the initial response to the crisis, the American central bank called the US Federal Reserve did so by buying back securities in the secondary market. And by the time that the US in late 2014 wound down the buying program the balance sheet of their central bank had an expanded balance sheet – their books had grown from 800bn dollars at the beginning of the program to 4,5 trillion. Ann Pettifor Author of The Production of Money and Director of Policy research in macroeconomics now joins us via Skype for more.



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Ann Pettifor
I’m Ann Pettifor, author and analyst of the global financial system, and co-author of The Green New Deal (2008). I predicted an Anglo-American debt-deflationary crisis back in 2003, and in September, 2006 published The Coming First World Debt Crisis (Palgrave). I am known for my work on the sovereign debts of low income countries and for leading an international movement for the cancellation of debts, Jubilee 2000.

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