Romina Boccia: The Fed Is Operating Under a New Normal

EXCERPT:

BOCCIA: "I think we’ll have to wait what Shelton has to say about it in the Senate hearing today. I’m quite confident she’ll be asked about it, but the views she holds aren’t that different. We’re living in a very different environment with the fed op right under a new normal. The emergency measures that we thought they would long have quit, they’re continuing to do so. And paying interest on access reserves that’s really reduced liquidity in the markets and that’s also one of the main factors why we haven’t seen the inflation that many economists predicted when the fed was first starting to engage in quantitative easing.”