Saying that interest rates are low because of businesses hoarding cash (as opposed to massive expansion of Fed balance sheet which by definition controls interest rates) is absurd. The Fed themselves acknowledge that their policies are why interest rates are low or negative!
The true problem is that QE represents a wealth transfer to the richest among us. New money (which is more powerful at its introduction into the money supply) is funneled directly into equity markets or into foreign markets, creating massive asset bubbles, enriching the rich and robbing the poorest through inflation.
To suggest that massive Fed bond buying is not THE cause of low interest rates is ridiculous.
The true problem is that QE represents a wealth transfer to the richest among us. New money (which is more powerful at its introduction into the money supply) is funneled directly into equity markets or into foreign markets, creating massive asset bubbles, enriching the rich and robbing the poorest through inflation.
To suggest that massive Fed bond buying is not THE cause of low interest rates is ridiculous.