How many days will it take for the cheque to clear? http://xhamsterx.in.net/ xhamster On the assumption he was in the running for the Fed chairmanship, Summers has also kept mum recently about what he would do to replace QE. In April, however, he was candid and clear. "QE in my view is less efficacious for the real economy than most people suppose," he said. He is concerned the economy will settle down into a "new normal" where we accept sluggish growth and high unemployment. He therefore recommends altering QE and allowing interest rates to rise.