Ken Clarke has been typically outspoken while talking to a reporter from the Manchester Evening News.
A few moments in to an interview he said:
"The Bank [of England] is going in for quite drastic measures of an unprecedented kind, which some idiot has called quantitative easing."
Watch the video here.
Hat tip to Centre Right.
Friday, 6 March 2009
Quantitative Easing? What idiot called it that?
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2 comments:
Seems like we live in an era of Orwellian tergiversation.
QE is not a totally illogical name. Most governments most of the time control money via interest rates, ie they control the PRICE. An alternative way of controlling the price and/or quantity of any commodity is to concentrate on the VOLUME being produced rather than the PRICE. "Easing" refers to "relaxing restrictions on the supply" to coin a phrase. I agree QE is a bit of a mouthful, but its not a totally illogical phrase.
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