The latest from Lacy Hunt. Three or four pages here should be read carefully, if not memorized. QE is causing problems and as Time magazine points out, Yellen is the first of a committed new Keynesian breed of economist who disagrees with the research Lacy cites from other highly respected academics. This does not bode well. (Incidentally, I write this as I sit in a British Airways plane, in what they call their new version of business class, which is anything but.)