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Not that the U.S. can expect to see a new round of easing anytime soon. Easing makes the most sense when the federal funds rate, the rate at which banks short on reserves can borrow from other banks, has already been pushed down to zero, meaning it could take another crisis to inspire massive, repeated rounds of quantitative easing again. And with any luck, crises like the Great Recession are once-in-a-lifetime affairs.
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