{"id":15041,"date":"2020-06-03T09:56:29","date_gmt":"2020-06-02T23:56:29","guid":{"rendered":"https:\/\/www.prosolution.com.au\/?p=15041"},"modified":"2020-06-03T10:56:26","modified_gmt":"2020-06-03T00:56:26","slug":"quantitative-easing","status":"publish","type":"post","link":"https:\/\/wealthcoach.com.au\/stage\/quantitative-easing\/","title":{"rendered":"What is quantitative easing, and should we be concerned?"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"250\" data-attachment-id=\"15048\" data-permalink=\"https:\/\/wealthcoach.com.au\/stage\/quantitative-easing\/qe\/\" data-orig-file=\"https:\/\/i0.wp.com\/wealthcoach.com.au\/stage\/wp-content\/uploads\/2020\/06\/QE.png?fit=1000%2C250&amp;ssl=1\" data-orig-size=\"1000,250\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"QE\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/wealthcoach.com.au\/stage\/wp-content\/uploads\/2020\/06\/QE.png?fit=300%2C75&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/wealthcoach.com.au\/stage\/wp-content\/uploads\/2020\/06\/QE.png?fit=1000%2C250&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/wealthcoach.com.au\/stage\/wp-content\/uploads\/2020\/06\/QE.png?resize=1000%2C250&#038;ssl=1\" alt=\"\" class=\"wp-image-15048\" srcset=\"https:\/\/i0.wp.com\/wealthcoach.com.au\/stage\/wp-content\/uploads\/2020\/06\/QE.png?w=1000&amp;ssl=1 1000w, https:\/\/i0.wp.com\/wealthcoach.com.au\/stage\/wp-content\/uploads\/2020\/06\/QE.png?resize=300%2C75&amp;ssl=1 300w, https:\/\/i0.wp.com\/wealthcoach.com.au\/stage\/wp-content\/uploads\/2020\/06\/QE.png?resize=768%2C192&amp;ssl=1 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" data-recalc-dims=\"1\" \/><\/figure>\n\n\n\n<p>Global ratings agency Fitch, estimates that the value of Quantitative Easing (QE) implemented this year could reach $9 trillion! To put that in context, that is equal to more than half the cumulative total global QE that occurred between 2009 and 2018! The Federal Reserve in the US has alone pumped $4 trillion into the market over the past 11 weeks. This is absolutely unprecedented. <\/p>\n\n\n\n<p>Should investors\nbe worried about the long-term impact of all this money printing (QE)? What are\nthe risks that we need to be aware of? <\/p>\n\n\n\n<iframe loading=\"lazy\" src=\"https:\/\/webplayer.whooshkaa.com\/episode\/666497?theme=light&amp;enable-volume=true\" height=\"190\" width=\"100%\" scrolling=\"no\" frameborder=\"0\" allow=\"autoplay\"><\/iframe>\n\n\n\n<h3 class=\"wp-block-heading\">The role of central banks <\/h3>\n\n\n\n<p>Central banks\naround the world are in charge of monetary policy. The aim of monetary policy\nis to ensure a healthy economy and an inflation rate that is within the stated\ngoal. <\/p>\n\n\n\n<p>When the economic\nactivity increases and the economy approaches fully capacity, inflation can\nbegin to increase. In this situation, the central bank would normally increase\ninterest rates (to reduce corporate profits and consumer spending) to cool\neconomic demand. If the economy slows down, the central bank can cut rates to\nstimulate demand again. <\/p>\n\n\n\n<p>Interest rates is a\ncentral bank\u2019s primary tool. <\/p>\n\n\n\n<p>But what can a central bank do when rates are at or close to zero? Of course, they can contemplate negative interest rates (<a href=\"https:\/\/www.dw.com\/en\/why-are-interest-rates-negative-in-europe\/a-50567409\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">e.g. in Germany, banks are paying borrowers to take out loans<\/a>), but that is largely ineffective. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\">What is quantitative easing?<\/h3>\n\n\n\n<p>When interest rates\nstop being an effective monetary policy tool, central banks start to consider more\nunconventional mechanisms such as QE. QE is the process of a central bank\nbuying assets such as bonds. They do that by issuing new currency i.e.\nincreasing money supply (often referred to as money printing). The aim is to\nstimulate the economy as a whole through injecting more money into the economy.\n<\/p>\n\n\n\n<p>The US Federal\nReserve started buying Mortgage Backed Securities (MBS) in 2009 to help the US\nrecover from the impact of the GFC. The idea is that lenders could sell MBS to\nthe Fed Reserve to raise funds. In doing so, banks would then have more funds\nto lend to property investors and homeowners. In turn this should stimulate\ndemand for housing and aid in the property market\u2019s recovery. To a large\ndegree, it worked. &nbsp;<\/p>\n\n\n\n<p>QE is not limited\nto MBS, however. Central banks can buy other assets including corporate bonds and\neven equities, which Bank of Japan has done. Central banks can target certain\nsectors of the economy if they so choose. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\">What has happened this year? <\/h3>\n\n\n\n<p>Most central\nbanks around the globe have participated in QE, including Australia\u2019s RBA, the\nUS Fed Reserve, Bank of England, European Central Bank and Bank of Japan. For\nthe most part, the QE programs have been much wider than what they were during\nthe GFC. Central banks have been buying corporate bonds (the aim is to increase\nlending to the SME sector) and Exchange Traded Funds (some of which invest in\nnon-investment-grade corporate bonds, which is seen as aggressive). <\/p>\n\n\n\n<p>As noted in my\nopening paragraph, Fitch estimates that the total value of global QE in 2020 to\nbe circa $9 trillion (AUD)!<\/p>\n\n\n\n<p>The RBA has been providing money to Australian banks at a <a href=\"https:\/\/www.rba.gov.au\/mkt-operations\/term-funding-facility\/announcement.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">fixed rate of 0.25% for 3 years<\/a> to promote lending to home owners and businesses. That is why fixed rates have been so attractive lately. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\">What impact will quantitative easing have on our investments? <\/h3>\n\n\n\n<p>A study conducted by <a href=\"https:\/\/knowledge.wharton.upenn.edu\/article\/goldstein-research\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\"><em>Wharton Business School<\/em><\/a> indicated one of the possible impacts of QE is that it can crowd out other types of lending. For example, during the GFC the Fed Reserve focused on buying MBS which are used to fund residential property. As such, the banks focused on this market to the detriment of business\/corporate lending. <\/p>\n\n\n\n<p>Such a focus on one\ntype of lending could be problematic because the housing market doesn\u2019t\ngenerate economic activity to the same extent that lending to businesses does.\nAlso, it could create asset price bubbles. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Main criticisms of quantitative easing<\/h3>\n\n\n\n<p>There are two main\ncriticisms of QE. <\/p>\n\n\n\n<p>The first criticism\nis that central banks are interfering with a free market and artificially influencing\nasset prices. In a free market, the market participants set the prices of\nassets (investments). <\/p>\n\n\n\n<p>What happened\nwhen Covid hit for example, was that no one wanted to buy bonds, even seemingly\n\u2018safe\u2019, investment-grade bonds. This created a liquidity crisis for investors\nas they weren\u2019t able to sell. Also, bond issuers were unable to renegotiate\nfacilities. Such a crisis could have greatly exacerbated the impact of the\nCovid event. As such, central banks intervened and provided this much needed liquidity.\n<\/p>\n\n\n\n<p>However, free market\nsupporters would argue that such intervention results in artificial prices and\nalters an investors risk premium i.e. it may be seen that some investments\nwon\u2019t be allowed to fail. The government can\u2019t jump in and rescue investors\nevery time something goes wrong. &nbsp;<\/p>\n\n\n\n<p>The second main\ncriticism is that QE could cause inflation. Inflation can occur because as the\nvolume of printed money in circulation increases, money becomes more abundant\nand the value of $1 falls. For example, as a result, a loaf of bread now costs\nyou $3 instead of $2. <\/p>\n\n\n\n<p>QE has been used\nin the US since 2009 but has not yet led to higher inflation. There are a few\nreasons cited for this including the idea that the additional money is hoarded\n(saved, not spent) by individuals and corporations. Secondly, wage inflation\nhas been below trend which has offset the effect of an increase in money\nsupply. If QE did start to create inflation, central banks could curtail it by\nincreasing interest rates. &nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">The future of monetary policy <\/h3>\n\n\n\n<p>It will be very\ninteresting to see what happens to interest rates over the next few decades. The\nbig question is whether economies and markets will be able to support higher\ninterest rates sometime in the future. For example, Japan has been stuck on near\nzero interest rates for about 25 years. <\/p>\n\n\n\n<p>If interest rates remain persistently low for a number of years, then QE is almost certainly likely to remain in place. The Fed Reserve tried to reduce its balance sheet (i.e. unwind QE) over 2018 and most of 2019 but only very gradually, as depicted by the chart below (click to enlarge). However, every time the Fed Reserve talks about reducing is asset purchases, share markets get the jitters. <\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><a href=\"https:\/\/www.federalreserve.gov\/monetarypolicy\/bst_recenttrends.htm\" target=\"_blank\" rel=\"noreferrer noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"365\" height=\"204\" data-attachment-id=\"15043\" data-permalink=\"https:\/\/wealthcoach.com.au\/stage\/quantitative-easing\/picture-1\/\" data-orig-file=\"https:\/\/i0.wp.com\/wealthcoach.com.au\/stage\/wp-content\/uploads\/2020\/06\/Picture-1.png?fit=365%2C204&amp;ssl=1\" data-orig-size=\"365,204\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Picture-1\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/wealthcoach.com.au\/stage\/wp-content\/uploads\/2020\/06\/Picture-1.png?fit=300%2C168&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/wealthcoach.com.au\/stage\/wp-content\/uploads\/2020\/06\/Picture-1.png?fit=365%2C204&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/wealthcoach.com.au\/stage\/wp-content\/uploads\/2020\/06\/Picture-1.png?resize=365%2C204&#038;ssl=1\" alt=\"A screenshot of a cell phone\n\nDescription automatically generated\" class=\"wp-image-15043\" srcset=\"https:\/\/i0.wp.com\/wealthcoach.com.au\/stage\/wp-content\/uploads\/2020\/06\/Picture-1.png?w=365&amp;ssl=1 365w, https:\/\/i0.wp.com\/wealthcoach.com.au\/stage\/wp-content\/uploads\/2020\/06\/Picture-1.png?resize=300%2C168&amp;ssl=1 300w\" sizes=\"(max-width: 365px) 100vw, 365px\" data-recalc-dims=\"1\" \/><\/a><figcaption>US Federal Reserve balance sheet chart (click to enlarge)<\/figcaption><\/figure><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">Long term impact of quantitative easing is unknown<\/h3>\n\n\n\n<p>It is difficult to assess whether QE has had a long-term impact on investment markets including the stock market, as so many factors have changed over time. Isolating the impact of just one factor (such as QE) is near impossible. <\/p>\n\n\n\n<p>Endlessly printing money and buying assets when investors desert a market doesn\u2019t seem like a very wise practice. If we agree that these activities can result in artificially inflated prices for assets, then I guess the key is to avoid such potentially overinflated assets. For example, is car manufacture Tesla really worth nearly $230 billion? This is twice the value of CBA. It has never recorded a profit. Its debt has increased by 500% over the past 5 years. And its net assets are worth less than $10 billion. \u00a0<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Gold is a natural inflationary\nhedge<\/h3>\n\n\n\n<p>Investing in gold can provide a natural hedge against inflation (if you think that is a risk). There are a number of gold ETF\u2019s available on the ASX. Of course, most investors already have a small amount of indirect exposure to gold if they invest in index funds (e.g. via companies such as Newcrest Mining). <\/p>\n\n\n\n<p>But given gold\nprices are approaching all-time highs, and QE hasn\u2019t caused inflationary\npressure over the past decade, I don\u2019t think this is a very attractive\ninvestment. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\">The best response to quantitative easing is to avoid overvalued markets <\/h3>\n\n\n\n<p>It\u2019s impossible\nto know what the long-term impact of QE will be. Inflation certainly doesn\u2019t\nappear to be a major risk at this point. It is possible that QE has\nartificially influenced prices of some assets (US stocks?), but it\u2019s impossible\nto tell for sure. <\/p>\n\n\n\n<p>The best way to manage the potential risks of QE is to avoid investing in markets, sectors and companies that are trading at unjustifiably high valuation multiples. For example, Warren Buffett didn\u2019t invest in any tech companies in the early 2000\u2019s because he didn\u2019t understand the valuations. In the end, the <a rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\" href=\"https:\/\/en.wikipedia.org\/wiki\/Dot-com_bubble\" target=\"_blank\">dot-com bubble<\/a> proved it was a very wise decision. <\/p>\n\n\n\n<p>Remember, your starting valuation is perhaps the best indicator of future expected returns (as long as your investment <a href=\"https:\/\/wealthcoach.com.au\/stage\/value-investing\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"methodology (opens in a new tab)\">methodology<\/a> is sound and robust). <\/p>\n   ","protected":false},"excerpt":{"rendered":"<p>Global ratings agency Fitch, estimates that the value of Quantitative Easing (QE) implemented this year could reach $9 trillion! To put that in context, that is equal to more than&#8230;<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"__cvm_playback_settings":[],"__cvm_video_id":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"footnotes":""},"categories":[30],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What is quantitative easing, and should we be concerned?<\/title>\n<meta name=\"description\" content=\"What is quantitative easing? Should investors be worried about the long-term impact of all this money printing (QE)? What can we do about it?\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What is quantitative easing, and should we be concerned?\" \/>\n<meta property=\"og:description\" content=\"What is quantitative easing? Should investors be worried about the long-term impact of all this money printing (QE)? What can we do about it?\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wealthcoach.com.au\/stage\/quantitative-easing\/\" \/>\n<meta property=\"og:site_name\" content=\"Prosolution Private Clients\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ProSolutionPrivateClients\/\" \/>\n<meta property=\"article:published_time\" content=\"2020-06-02T23:56:29+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-06-03T00:56:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wealthcoach.com.au\/stage\/wp-content\/uploads\/2020\/06\/QE.png\" \/>\n<meta name=\"author\" content=\"Stuart Wemyss\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@StuartWemyss\" \/>\n<meta name=\"twitter:site\" content=\"@StuartWemyss\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Stuart Wemyss\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"7 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/wealthcoach.com.au\/stage\/quantitative-easing\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/wealthcoach.com.au\/stage\/quantitative-easing\/\"},\"author\":{\"name\":\"Stuart Wemyss\",\"@id\":\"https:\/\/wealthcoach.com.au\/stage\/#\/schema\/person\/c3aa63480e5d77a56fbd3f70e41b9ce8\"},\"headline\":\"What is quantitative easing, and should we be concerned?\",\"datePublished\":\"2020-06-02T23:56:29+00:00\",\"dateModified\":\"2020-06-03T00:56:26+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/wealthcoach.com.au\/stage\/quantitative-easing\/\"},\"wordCount\":1446,\"publisher\":{\"@id\":\"https:\/\/wealthcoach.com.au\/stage\/#organization\"},\"articleSection\":[\"Financial Planning\"],\"inLanguage\":\"en-AU\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/wealthcoach.com.au\/stage\/quantitative-easing\/\",\"url\":\"https:\/\/wealthcoach.com.au\/stage\/quantitative-easing\/\",\"name\":\"What is quantitative easing, and should we be concerned?\",\"isPartOf\":{\"@id\":\"https:\/\/wealthcoach.com.au\/stage\/#website\"},\"datePublished\":\"2020-06-02T23:56:29+00:00\",\"dateModified\":\"2020-06-03T00:56:26+00:00\",\"description\":\"What is quantitative easing? Should investors be worried about the long-term impact of all this money printing (QE)? What can we do about it?\",\"breadcrumb\":{\"@id\":\"https:\/\/wealthcoach.com.au\/stage\/quantitative-easing\/#breadcrumb\"},\"inLanguage\":\"en-AU\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/wealthcoach.com.au\/stage\/quantitative-easing\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/wealthcoach.com.au\/stage\/quantitative-easing\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/wealthcoach.com.au\/stage\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"What is quantitative easing, and should we be concerned?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/wealthcoach.com.au\/stage\/#website\",\"url\":\"https:\/\/wealthcoach.com.au\/stage\/\",\"name\":\"ProSolution Private Clients\",\"description\":\"Holistic Financial Services\",\"publisher\":{\"@id\":\"https:\/\/wealthcoach.com.au\/stage\/#organization\"},\"alternateName\":\"ProSolution\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/wealthcoach.com.au\/stage\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-AU\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/wealthcoach.com.au\/stage\/#organization\",\"name\":\"ProSolution Private Clients\",\"url\":\"https:\/\/wealthcoach.com.au\/stage\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-AU\",\"@id\":\"https:\/\/wealthcoach.com.au\/stage\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/i0.wp.com\/www.prosolution.com.au\/wp-content\/uploads\/2016\/02\/ProSolution-logo-new-1-580x160-300x83.png?fit=300%2C83&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/www.prosolution.com.au\/wp-content\/uploads\/2016\/02\/ProSolution-logo-new-1-580x160-300x83.png?fit=300%2C83&ssl=1\",\"width\":300,\"height\":83,\"caption\":\"ProSolution Private Clients\"},\"image\":{\"@id\":\"https:\/\/wealthcoach.com.au\/stage\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/ProSolutionPrivateClients\/\",\"https:\/\/twitter.com\/StuartWemyss\",\"https:\/\/www.linkedin.com\/in\/stuartwemyss\/\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/wealthcoach.com.au\/stage\/#\/schema\/person\/c3aa63480e5d77a56fbd3f70e41b9ce8\",\"name\":\"Stuart Wemyss\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-AU\",\"@id\":\"https:\/\/wealthcoach.com.au\/stage\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/ae5c5d8e27329e215a9779262143f501?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/ae5c5d8e27329e215a9779262143f501?s=96&d=mm&r=g\",\"caption\":\"Stuart Wemyss\"},\"sameAs\":[\"http:\/\/www.prosolution.com.au\"],\"url\":\"https:\/\/wealthcoach.com.au\/stage\/author\/swemyss\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"What is quantitative easing, and should we be concerned?","description":"What is quantitative easing? Should investors be worried about the long-term impact of all this money printing (QE)? What can we do about it?","robots":{"index":"noindex","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"og_locale":"en_US","og_type":"article","og_title":"What is quantitative easing, and should we be concerned?","og_description":"What is quantitative easing? Should investors be worried about the long-term impact of all this money printing (QE)? What can we do about it?","og_url":"https:\/\/wealthcoach.com.au\/stage\/quantitative-easing\/","og_site_name":"Prosolution Private Clients","article_publisher":"https:\/\/www.facebook.com\/ProSolutionPrivateClients\/","article_published_time":"2020-06-02T23:56:29+00:00","article_modified_time":"2020-06-03T00:56:26+00:00","og_image":[{"url":"https:\/\/wealthcoach.com.au\/stage\/wp-content\/uploads\/2020\/06\/QE.png"}],"author":"Stuart Wemyss","twitter_card":"summary_large_image","twitter_creator":"@StuartWemyss","twitter_site":"@StuartWemyss","twitter_misc":{"Written by":"Stuart Wemyss","Est. reading time":"7 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/wealthcoach.com.au\/stage\/quantitative-easing\/#article","isPartOf":{"@id":"https:\/\/wealthcoach.com.au\/stage\/quantitative-easing\/"},"author":{"name":"Stuart Wemyss","@id":"https:\/\/wealthcoach.com.au\/stage\/#\/schema\/person\/c3aa63480e5d77a56fbd3f70e41b9ce8"},"headline":"What is quantitative easing, and should we be concerned?","datePublished":"2020-06-02T23:56:29+00:00","dateModified":"2020-06-03T00:56:26+00:00","mainEntityOfPage":{"@id":"https:\/\/wealthcoach.com.au\/stage\/quantitative-easing\/"},"wordCount":1446,"publisher":{"@id":"https:\/\/wealthcoach.com.au\/stage\/#organization"},"articleSection":["Financial Planning"],"inLanguage":"en-AU"},{"@type":"WebPage","@id":"https:\/\/wealthcoach.com.au\/stage\/quantitative-easing\/","url":"https:\/\/wealthcoach.com.au\/stage\/quantitative-easing\/","name":"What is quantitative easing, and should we be concerned?","isPartOf":{"@id":"https:\/\/wealthcoach.com.au\/stage\/#website"},"datePublished":"2020-06-02T23:56:29+00:00","dateModified":"2020-06-03T00:56:26+00:00","description":"What is quantitative easing? Should investors be worried about the long-term impact of all this money printing (QE)? What can we do about it?","breadcrumb":{"@id":"https:\/\/wealthcoach.com.au\/stage\/quantitative-easing\/#breadcrumb"},"inLanguage":"en-AU","potentialAction":[{"@type":"ReadAction","target":["https:\/\/wealthcoach.com.au\/stage\/quantitative-easing\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/wealthcoach.com.au\/stage\/quantitative-easing\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/wealthcoach.com.au\/stage\/"},{"@type":"ListItem","position":2,"name":"What is quantitative easing, and should we be concerned?"}]},{"@type":"WebSite","@id":"https:\/\/wealthcoach.com.au\/stage\/#website","url":"https:\/\/wealthcoach.com.au\/stage\/","name":"ProSolution Private Clients","description":"Holistic Financial Services","publisher":{"@id":"https:\/\/wealthcoach.com.au\/stage\/#organization"},"alternateName":"ProSolution","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/wealthcoach.com.au\/stage\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-AU"},{"@type":"Organization","@id":"https:\/\/wealthcoach.com.au\/stage\/#organization","name":"ProSolution Private Clients","url":"https:\/\/wealthcoach.com.au\/stage\/","logo":{"@type":"ImageObject","inLanguage":"en-AU","@id":"https:\/\/wealthcoach.com.au\/stage\/#\/schema\/logo\/image\/","url":"https:\/\/i0.wp.com\/www.prosolution.com.au\/wp-content\/uploads\/2016\/02\/ProSolution-logo-new-1-580x160-300x83.png?fit=300%2C83&ssl=1","contentUrl":"https:\/\/i0.wp.com\/www.prosolution.com.au\/wp-content\/uploads\/2016\/02\/ProSolution-logo-new-1-580x160-300x83.png?fit=300%2C83&ssl=1","width":300,"height":83,"caption":"ProSolution Private Clients"},"image":{"@id":"https:\/\/wealthcoach.com.au\/stage\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/ProSolutionPrivateClients\/","https:\/\/twitter.com\/StuartWemyss","https:\/\/www.linkedin.com\/in\/stuartwemyss\/"]},{"@type":"Person","@id":"https:\/\/wealthcoach.com.au\/stage\/#\/schema\/person\/c3aa63480e5d77a56fbd3f70e41b9ce8","name":"Stuart Wemyss","image":{"@type":"ImageObject","inLanguage":"en-AU","@id":"https:\/\/wealthcoach.com.au\/stage\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/ae5c5d8e27329e215a9779262143f501?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/ae5c5d8e27329e215a9779262143f501?s=96&d=mm&r=g","caption":"Stuart Wemyss"},"sameAs":["http:\/\/www.prosolution.com.au"],"url":"https:\/\/wealthcoach.com.au\/stage\/author\/swemyss\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p7FPzp-3UB","jetpack_likes_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/wealthcoach.com.au\/stage\/wp-json\/wp\/v2\/posts\/15041"}],"collection":[{"href":"https:\/\/wealthcoach.com.au\/stage\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wealthcoach.com.au\/stage\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wealthcoach.com.au\/stage\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/wealthcoach.com.au\/stage\/wp-json\/wp\/v2\/comments?post=15041"}],"version-history":[{"count":6,"href":"https:\/\/wealthcoach.com.au\/stage\/wp-json\/wp\/v2\/posts\/15041\/revisions"}],"predecessor-version":[{"id":15051,"href":"https:\/\/wealthcoach.com.au\/stage\/wp-json\/wp\/v2\/posts\/15041\/revisions\/15051"}],"wp:attachment":[{"href":"https:\/\/wealthcoach.com.au\/stage\/wp-json\/wp\/v2\/media?parent=15041"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wealthcoach.com.au\/stage\/wp-json\/wp\/v2\/categories?post=15041"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wealthcoach.com.au\/stage\/wp-json\/wp\/v2\/tags?post=15041"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}