Perhaps It's Time for QE4? Or Are the Americans and Chinese Special?

Dominating the economic headlines are weak conditions in China and speculation on what Ms. Yellen might no with the Fed’s target interest rate. Last October when markets weakened, China, Draghi, Japan, the Bank of England, and Fischer stepped in with moves towards even looser monetary policy. This time around many of the same players – Draghi’s ECB, the People’s Bank of China, Japan, Russia, and many others are taking further measures at loosening financial conditions. In the case of the ECB and the BOJ (Bank of Japan), this means printing money. What is the Federal Reserve doing?  Thinking about raising…