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John Ryding, RDQ Economics LLC's chief
economist told that Fed's action is dealing with the results of crisis rather
than causes. In his opinion easing borrowing costs not only demonstrate central
banks' power to shock global markets but also depict their limited ability to
tackle debt crisis. Ryding, former BoE economist suggested that stabilization of
debt situation requires ECB bond purchases; however the bank so far has
rejected this option.