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Reuters
Calling time on QE, central banks prep for synchronized asset cull
Major central banks, already plotting interest rate hikes in a fight against inflation, are also preparing a common pullback from key financial markets in a first-ever round of global “quantitative tightening” expected to restrict credit and add stress to an already-slowing world economy. The U.S. Federal Reserve and its major counterparts in Europe, Japan, the United Kingdom and elsewhere pumped around $12 trillion into the financial system to fight the economic fallout of the coronavirus pandemic, buying an array of assets and in some cases offering long-term loans to banks in a massive bout of quantitative easing. With breakout inflation now the common fear, they are reversing course.
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