Prof. Kim Schoenholtz on unwinding quantitative easing
July 26, 2012
Excerpt from US News & World Report -- "'We've never undone this. The first time we try to exit from these policies, we're going to be learning what that process is like,' says Kim Schoenholtz, director of the Center for Global Economy and Business at NYU's Stern School of Business. 'The Fed seems to be confident that it can do so, but having never done so, one should naturally be cautious about potentially unintended consequences.'"