Not every banker has been fooled by the neoliberal myths of the last 25 years. While the equity markets fall for the myth that Ben Bernanke has everything under control, Olivier Blanchard, chief economist of the IMF, is singing a different tune. He says quantitative easing will do little to help the economy at this point and that the Federal Reserve has likely run out of bullets:
“I think we may see a bit more quantitative easing in the U.S. and in Europe but I don’t think we should fool ourselves. We have used most of the monetary ammunition we have”
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.