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Fed Scorecard: Five Ways QE2 Worked—And Where It Failed
Quantitative easing—which ends Thursday—effectively reached some of its goals and badly missed at others, but the unprecedented government intervention program’s final legacy is far from being written. Fed Chairman Ben Bernanke launched the program with hopes that it would create a “wealth effect”—a rise in asset prices that would help convince Americans that the financial crisis had passed and better days were ahead. No doubt there has been a considerable rise in a variety of assets, and if you’re lucky enough to own them you probably did quite well in the eight months since the central bank launched ... (full story)