Financial and Monetary Systems

15 quotes on quantitative easing and the global economy

Below are key quotes from the Davos 2015 session Ending the Experiment, which asked: how are major markets responding to the end of quantitative easing and the prospect of higher interest rates in the United States?

Some of the quotes were condensed for publication on Twitter.

“Massive progress has been made in the last five years. More progress has to be made in terms of fiscal union and banking union.”
Christine Lagarde, Managing Director, International Monetary Fund

“Deflation and secular stagnation are the risks of our time.”
Lawrence Summers, Charles W. Eliot University Professor, Harvard University, USA

“I am confident that Europe can make it.”
Ana Botín, Chairman, Banco Santander, Spain

“Forceful QE and forceful structural reforms, including currency adjustment, are what is needed.”
Ray Dalio, Chairman and Chief Investment Officer, Bridgewater Associates, USA

“We’re in a currency war. One of the easier ways to stimulate your economy is to weaken your currency.”
Gary D. Cohn, President and Chief Operating Officer, Goldman Sachs, USA

“Fiscal policy is not a panacea; it must be used with monetary policy.”
Ray Dalio

Image: Christine Lagarde, Managing Director, International Monetary Fund (IMF), Washington DC; World Economic Forum Foundation Board Member smiles during the session ‘Ending the Experiment’ in the congress centre at the Annual Meeting 2015 of the World Economic Forum in Davos, January 22, 2015. WORLD ECONOMIC FORUM/swiss-image.ch/Photo Valeriano DiDomenico

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