Richard Lewis, Global Head of Equities at Fidelity says that QE has gone on too long, failed to properly stimulate the economy and no-one know's how it's going...

Richard Lewis, Global Head of Equities at Fidelity says that QE has gone on too long, failed to properly stimulate the economy and no-one know's how it's going to unwind. I think this is a subject for 2014 because one of the unwanted side effects of the current situation we have is that rapidly inflating asset markets create their own demand. Nobody's actually done a study of how much investment is investment in new goods and how much investment is buying financial assets or buying real estate. But I suspect if you did that, then an awful lot of what's called investment is just transfer of assets at ever-inflating prices. QE was an appropriate -policy at the peak of the crisis but only as a temporary measure, and QE is a very inappropriate monetary policy. It's a huge monetary experiment, nobody knows how it's going to end. Read: (VIEW LINK)