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The US Productive Sector Recession

The US Productive Sector Recession
U.S. one-dollar banknotes are seen in front of a stock graph in this illustration taken on Feb. 8, 2021. Dado Ruvic/Illustration/Reuters
Daniel Lacalle
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Commentary

Quantitative easing was designed as a tool to provide time for governments to implement structural reforms, boost growth, and strengthen the economy. However, it has become a tool to increase the size of government and take on increasingly riskier levels of debt.

Daniel Lacalle
Daniel Lacalle
Author
Daniel Lacalle, Ph.D., is chief economist at hedge fund Tressis and author of the bestselling books “Freedom or Equality” (2020), “Escape from the Central Bank Trap” (2017), “The Energy World Is Flat”​ (2015), and “Life in the Financial Markets.”
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