Bank of America: Here's the Precise Moment When We Should Have Known QE Went Wrong

Bad news became good news.

The U.S. Federal Reserve building in Washington.

Photographer: Joshua Roberts/Bloomberg

"There's no such thing as a free lunch" is an oft-quoted maxim in economics, and it seems like a maxim that could easily be applied to the Federal Reserve's bond-buying program known as quantitative easing.

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