Список проголосовавших за комментарий "Endeavour, на счет количественный оценок, это все достаточно тяжело оценить. Но, согласитесь, что без этих программ, долгосрочные ставки маловероятно, что были бы выше. :-)<br/> <br/> Если брать оценки самой ФРС, то: This analysis suggests that each $100 billion of asset purchases lowers the yield on 10-year Treasury notes by around 3 to 4 basis points, that is, between 0.03 to 0.04 percentage point. That might not sound like much. But consider the Fed’s so-called QE2 program in 2010–11 that totaled $600 billion of purchases. According to estimates, that program lowered 10-year yields by about 20 basis points. That’s about the same amount that the 10-year Treasury yield typically falls in response to a cut in the federal funds rate of ¾ to 1 percentage point, which is a big change (see Chung et al. 2012 and Gürkaynak, Sack, and Swanson 2005, Table 5). Applying the same logic to the current, much larger, asset purchase program, the implied reduction in longer-term interest rates is roughly 40 to 50 basis points. <br/> <br/> Отсюда: <a href="/r.php?u=http%3A%2F%2Fwww.frbsf.org%2Feconomic-research%2Fpublications%2Feconomic-letter%2F2013%2Foctober%2Ffederal-reserve-unconventional-monetary-policy-large-scale-asset-purchases-forward-guidance%2F&s=2878621654" target="_blank">www.frbsf.org/economic-research/publications/economic-letter/2013/october/federal-reserve-unconventional-monetary-policy-large-scale-asset-purchases-forward-guidance/</a>"