Economists are often keen to stress that we are much better equipped to explain the past than predict the future. With a little under a decade’s evidence, the discipline is now in a strong position to evaluate whether non-standard monetary policies, such as quantitative easing (QE), achieved their intended objectives. Central banks have repeatedly assured us that these measures were effective, but we at Fathom have a healthy dose of cynicism when it comes to doctors evaluating their own prescriptions…