The U.S. Federal Reserve used QE following the 2008-09 financial crisis and again in 2020 in response to the economic shutdown. Economists tend to agree that QE works, but caution that too much of it can be a bad thing.

How effective has quantitative easing been?

How much quantitative easing have we done in the UK? To date we have bought £895 billion worth of bonds through QE. Most of that sum (£875 billion) has been used to buy UK government bonds. A much smaller part (£20 billion) has been used to buy UK corporate bonds.

Was QE effective in the US?

Effectiveness of QE

Banks and other financial institutions simply re-deposited it in the Fed. ... Several studies published in the aftermath of the crisis found that quantitative easing in the US has effectively contributed to lower long term interest rates on a variety of securities as well as lower credit risk.