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Waller: Thoughts on Quantitative Tightening, Including Remarks on "Quantitative Tightening around the Globe: What Have We Learned?"
Thank you, it is great to be here. I'm pleased to participate in this panel to discuss a policy action now being implemented by central banks around the globe: quantitative tightening (QT).1 I want to thank Kristin, Matt, and Wenxin for putting together a great paper that provides an overview of the effects of QT across seven central banks. Often called "large-scale asset purchases" (LSAPs) by central bankers, the view of quantitative easing, or QE, as a tool to add monetary policy accommodation and QT to tighten policy has changed over time. When it was used during and after the Global Financial Crisis, QE was deemed ... (full story)