{"id":35205,"date":"2012-10-20T21:59:30","date_gmt":"2012-10-20T21:59:30","guid":{"rendered":"http:\/\/127.0.0.1\/site\/2017\/2\/1985\/ft_henny_sender-bernankes_faith_in_qe_on_shaky_ground\/"},"modified":"2012-10-20T21:59:30","modified_gmt":"2012-10-20T21:59:30","slug":"ft_henny_sender-bernankes_faith_in_qe_on_shaky_ground","status":"publish","type":"post","link":"https:\/\/kendallharmon.net\/?p=35205","title":{"rendered":"(FT) Henny Sender&#8211;Bernanke\u2019s faith in QE on shaky ground"},"content":{"rendered":"<p>Indeed, the impact of this latest round of unconventional monetary policy is already fading. Analysts at Morgan Stanley this week decided that returns in the high-yield market were no longer attractive in the face of deteriorating fundamentals. The stock market is struggling to make further headway, while yields on mortgage-backed securities have started to turn up after an initial drop. A drop in third-quarter capital expenditure suggests the Fed policy hasn\u2019t been a catalyst for corporate investment at all.<\/p>\n<p>One major reason for the lack of effectiveness of this latest round of quantitative easing may well be a growing concern with the \u201cfiscal cliff\u201d\u009d, automatic US tax rises and spending cuts due to kick in on January 1. Uncertainty over \u201ccliff risk\u201d\u009d \u201d\u201c and the prospects of a deal in Congress on deficit reduction \u201d\u201c seems to be offsetting any positive impact of Fed policies.<\/p>\n<p><a href=\"http:\/\/www.ft.com\/intl\/cms\/s\/0\/2b1b4d12-193f-11e2-af4e-00144feabdc0.html?ftcamp=published_links%2Frss%2Fmarkets_capital-markets%2Ffeed%2F%2Fproduct#axzz29sJTUDBL\">Read it all<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indeed, the impact of this latest round of unconventional monetary policy is already fading. Analysts at Morgan Stanley this week decided that returns in the high-yield market were no longer attractive in the face of deteriorating fundamentals. The stock market<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/kendallharmon.net\/?p=35205\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":794,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[40,670,582,589,595,592,149,671,617,600,597,616,151,618,587,585,669,584],"tags":[],"class_list":["post-35205","post","type-post","status-publish","format-standard","hentry","category-economics-politics","category-budget","category-consumerconsumer-spending","category-corporationscorporate-life","category-credit-markets","category-currency-markets","category-economy","category-federal-reserve","category-house-of-representatives","category-housingreal-estate-market","category-laborlabor-unionslabor-market","category-office-of-the-president","category-politics-in-general","category-senate","category-taxes","category-the-banking-systemsector","category-the-national-deficit","category-the-u-s-government"],"_links":{"self":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/35205","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/users\/794"}],"replies":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=35205"}],"version-history":[{"count":0,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/35205\/revisions"}],"wp:attachment":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=35205"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=35205"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=35205"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}