If there is no such thing as a free lunch, then all this manipulation by central bankers has fall-out, and the best it can do is transfer wealth between groups. Manipulation can blow up bubbles in markets, causing inflation that hits assets but not wages, and actually hurting the middle class and the working poor–this much we have seen in recent years. What we have not seen is any genuine, sustainable economic growth in over a decade.
Exiting QE could ‘undermine the recovery’, IMF warns – Telegraph:: www.telegraph.co.uk/finance/economics/10061800/Exi….html

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