Steen Jakobsen: "Every time this has been the case in history, it has ended in bubble and tears."

Business quote of the day.

Sad baby. Photograph, Getty Images.
Sad baby. Photograph, Getty Images.

Every time this has been the case in history, it has ended in bubble and tears.

Steen Jakobsen, chief investment officer at Saxo Bank, casts doubt on the long-term effectiveness of US Federal Reserve stimulus measures. Global markets leapt after it was announced that the Fed would pump $40bn into the US economy each month until it saw a sustained upturn in the weak jobs market.  “This could be the day where the Fed did too much”, Jakobsen added.

Helen Roxburgh is the online editor of economia.