The function would be defined as QE(n) for those familiar with the nomenclature of calculus.
The US Federal Reserve may have no choice but to introduce a third round of quantitative easing, or QE3, in light of the significant headwinds facing the global economy as well as problems at home, Stephen Pope, Managing Partner at Spotlight Ideas said.
“The plight of several US states is becoming serious,” he said.
“California is not likely to reduce the double digit level of unemployment it currently endures and the “Golden State” is said to carry a budget deficit of $25 billion by the end of the second quarter of 2012. State pension programs are pushing the state close to the brink and yet the administration of Governor Jerry Brown appears, bar a state hiring freeze, to do nothing to address the issue,” he said.