Nick Macpherson says it’s ‘time to move on’ from QE, nearly 10 years after the financial crash, because of its unwanted side-effectsA former senior Treasury mandarin has compared quantitative easing to heroin and called for an end to almost a decade of electronic money printing by central banks. Nick Macpherson was permanent secretary to the Treasury when Bank of England officials started buying UK government bonds to stimulate the economy following the financial crisis. “QE like heroin: need ever increasing fixes to create a high. Nick Macpherson (@nickmacpherson2) QE like heroin: need ever increasing fixes to create a high. In another reply to Harrison’s tweet, he appeared to suggest that QE was a “policy which is yielding diminishing returns”.

Source: The Guardian August 21, 2017 12:50 UTC