How Quantitative Easing Helps the Rich and Soaks the Rest  How
Quantitative Easing Helps the Rich and Soaks the Rest September
20, 2012  Anthony Randazzo  Anthony Randazzo is the Director of
Economic Research for the Reason Foundation. (read full bio)
The decision is in: Unlimited quantitative easing. That was the
announcement from the Federal Open Market Committee on Sept. 13,
launching a third round of purchases of securities in a bid to
boost the economy and reduce unemployment.  This time, Federal
Reserve Chairman Ben Bernanke and crew are pledging to buy $40
billion per month until the economy improves. The Fed's policy
committee also extended its zero interest rate policy until “at
least mid-2015.” If QE3 lasts that long, the Feds will be
printing at least another $800 billion to buy mortgage-backed
securities.    It won’t be a surprise to read conservatives
lambasting this as unconventional monetary policy meant to help
reelect President Obama. And inflation hawks have already
started screeching. But