http://www.nytimes.com/2014/10/30/upshot/the-fed-has-not-stopped-trying-to-stimulate-the-economy.html?module=Search&mabReward=relbias%3Ar%2C%7B%222%22%3A%22RI%3A14%22%7D&abt=0002&abg=0&_r=0
This article is attacking the Fed because when it ran out of room to lower the short-term interest rates, it embarked in a different program. This program bought long-term securities to push down longterm interest rates. This lead to the Fed holding 4.5 trillion worth of assets. By holding this amount of assets it keeps the interest rates to remain low and makes it easier for businesses and families to borrow. THis Wednesday's Federal Reserve decision is supposed to end its bond-buying program. The Fed therefore expect interest rates to remain low for a while. The degree of monetary stimulus the economy is very high, but doesn't mean that is is sufficient. The reason why for that is because unemployment remains high and inflation has continued to run below the Fed's target.
The author makes the point that although the Fed is ending their quantitative easing by no longer purchasing long term assets, they are not really changing the amount of monetary support the economy is receiving. He is trying to make it clear that the stimulus is not over. Whether we like it or not, this is probably a good thing because we are still in the recovery phase and to take on contractionary policies would possibly slow or reverse this recovery.
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