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. This boosted GDP growth and modestly increased inflation.

How effective is quantitative easing?

Quantitative easing effectively allows central banks to dramatically increase the size of their balance sheets, which also increases the amount of credit available to borrowers. To make that happen, a central bank issues creates new money and uses that to purchase assets from commercial banks.

How much money did quantitative easing create?

To address the economic shock triggered by COVID-19, the world's four major central banks have expanded their QE programs by a total of $9.1 trillion to support their economies and the functioning of global financial markets.