But judging by the contents of that speech, Mr Stein's profile seems bound to grow.The subject of the speech was the Fed's large scale asset purchases (LSAPs), colloquially known as quantitative easing (QE).
Firstly, in August 2010, the Federal Open Market Committee (FOMC) announced the reinvestment of principal payments from agency debt and mortgage-backed securities purchased during the first round of Large Scale Asset Purchases (LSAP).
(Sergey Lychagin, Joris Pinkse, Margaret Slade, John Van Reenen) African-American economic progress in urban areas: A tale of 14 American cities (Dan Black, Natalia Kolesnikova, and Lowell Taylor) In equality and infant and childhood mortality in the United States in the Twentieth century (Michael Haines) The large scale asset purchases had large international effects (Christopher Neely).
Also on Friday Mr Draghi, speaking in Frankfurt, suggested he was determined to use measures, such as large scale asset purchases, to ensure Europe doesn't slump into a new crisis.
A prominent example involves Lin et al.'s (2008) study, which discovers an increasing probability of default during recessions, in which companies massively reduce their workforce or downsize large-scale assets, commonly effective actions during a turnaround.
Evaluating Large-Scale Asset Purchases, Brooking Institution, October 11 , 2012
The first is making large-scale asset purchases.
Moreover, the European Central Bank is engaged in a large-scale asset-purchasing initiative that could be easily and rapidly expanded.
Twice now the Fed has engaged in large-scale asset purchasing, a process known as quantitative easing.
Since 2008, the Fed has engaged in three rounds of unconventional large-scale asset purchases, known as quantitative easing.
