Bernanke Fed Drives Deflation With Zero Rate Policy

"“It is unclear why proponents of quantitative easing or ‘QE’ inside the Federal Open Market Committee (FOMC) are confident that it will be the answer to our current economic woes. Many of the arguments and models linking QE to improved performance of the real economy are unsatisfactory… More importantly, the only available empirical analyses available suggest that QE, when employed in Japan, had little if any effect at all on GDP, inflationary expectations, or measured inflation.”"