# Prof. Kim Schoenholtz's research highlights the risk associated with a Federal stimulus

1 Faculty News February 28, 2014 ![Reuters logo](/sites/default/files/styles/246w/public/assets/images/con_030503.jpg?itok=0OAgrDF0)>

Excerpt from [Reuters](http://www.reuters.com/article/2014/02/28/usa-fed-tantrums-idUSL1N0LX1BC20140228) -- "In the paper, also co-authored by professors Hyun Song Shin of Princeton University and [Kermit Schoenholtz](http://www.stern.nyu.edu/faculty/bio/kim-schoenholtz) of New York University, the economists concluded that the current policy stimulus 'is not a free lunch' and can bring about disruptions when that accommodation is lifted. 'Perhaps the domestic macroeconomic fallout from exit will be as gentle as was the impact from the 2013 "taper tantrum,"' they wrote. 'However, such a benign outcome is not guaranteed.'"

[Read more](http://www.reuters.com/article/2014/02/28/usa-fed-tantrums-idUSL1N0LX1BC20140228)

Additional coverage appeared on [Bloomberg](http://www.bloomberg.com/news/2014-03-03/yellen-tames-bond-traders-driving-volatility-to-pre-taper-levels.html), [Bloomberg Businessweek](http://www.businessweek.com/articles/2014-02-28/taper-tantrums-why-central-banking-is-like-parenthood) and [The Wall Street Journal](http://online.wsj.com/article/BT-CO-20140228-709615.html).