Are large-scale asset purchases fueling the rise in commodity prices?

Reuven Glick and Sylvain Leduc

FRBSF Economic Letter, 2011, issue apr4

Abstract: Prices of commodities including metals, energy, and food have been rising at double-digit rates in recent months. Some critics argue that Federal Reserve purchases of long-term assets are fueling this rise by maintaining an excessively expansionary monetary stance. However, daily data indicate that Federal Reserve announcements of large-scale asset purchases tended to lower commodity prices even as long-term interest rates and the value of the dollar declined.

Keywords: Prices (search for similar items in EconPapers)
Date: 2011
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (12)

Downloads: (external link)
https://www.frbsf.org/wp-content/uploads/el2011-10.pdf (application/pdf)
https://www.frbsf.org/research-and-insights/public ... se-commodity-prices/ (text/html)
https://fraser.stlouisfed.org/files/docs/historica ... bsf_let_20110404.pdf (application/pdf)
https://fraser.stlouisfed.org/title/economic-lette ... modity-prices-633503

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fip:fedfel:y:2011:i:apr4:n:2011-10

Ordering information: This journal article can be ordered from

Access Statistics for this article

More articles in FRBSF Economic Letter from Federal Reserve Bank of San Francisco Contact information at EDIRC.
Bibliographic data for series maintained by Federal Reserve Bank of San Francisco Research Library ().