Credit Easing or Quantatative Easing

Stephanie Flanders at Stephanomics tries to find the difference between Credit Easing and Quantatative Easing.

Things are complicated - especially monetary policy things. Central bankers, of all people, have to be precise.

But it's odd that two former teachers, previously known for their crystal clarity, should decide now is the time to be wilfully complex.

I suspect that the real reason they want to distance themselves from QE is that from there, it's only a small leap for commentators to a phrase that people understand only too well: printing money.

But here's the funny thing: they may not be doing QE. But they are very definitely printing money.