Economists at Tokyo seminar split over efficacy of QE

Tokyo

THERE was a more than a hint of US triumphalism in comments made by JP Morgan Chase International chairman Jacob Frenkel in his Tokyo address this week about how successfully the US economy had come through three rounds of monetary easing and was now returning to "normal".

Among a group of economic and financial experts at a seminar discussing whether the world was ready for normalisation of US monetary policy, his answer was yes, it really was ready.