Then the idea of QE is countercyclical? Stimulate when weak and unwind the portfolio “when the economy is strong enough”?
I just don’t see how they are going to unwind QE and raise interest rates. They have failed desperately to produce the Keynesian “quasi-boom” and returning to pre-crisis policy would just allow the economy to tumble again…… thus, “not on my watch” imo.
I have to ask what you are predicting for the next 10 years in terms of monetary and fiscal policy and economic performance.