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quantitative easing — was showing signs of working.
Monetary easing was important to ease deflationary pressures, but by itself was not enough, he asserted.
And many economists are still debating whether the last round of quantitative easing was terribly useful.
Quantitative easing was always meant to be an emergency measure, not a permanent fixture.
Darling continued to claim that his printing of new money through quantitative easing was aiding business.
"Quantitative easing was never a particularly powerful tool to stimulate growth," he says.
Quantitative easing was first tried by Japan, where the economy has been stagnating for more than twenty years.
Mr. Summers "seemed less convinced that such a blunt instrument as quantitative easing was the right tool," Mr. Schulz said.
After an earlier round of quantitative easing was deemed insufficient, the Fed pledged a further $600 billion late in 2010.
Quantitative easing was used by Japan when it faced deflation - a period of falling prices - from 2001 until 2006.
But the chief European central banker, Jean-Claude Trichet, indicated in Brussels that no monetary easing was in the cards.
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