The Federal Reserve has been conducting hidden quantitative easing ('not QE') since at least the SVB and UK gilt crises (2022-23) by increasing bank reserves and emergency lending while nominally shrinking its balance sheet
factualpending
Speaker
Dr. Michael HowellEvidence Quote
“something I've described as not qeqe...US Bank Reserves have increased fairly noticeably since um the svb crisis in March of 2023...they've also increased fairly significantly since the British Guild crisis in September of 2022”
Source
Global Debt Binge May Force QE + Inflation: Dr. Michael Howell— Mark Mitchell - Mortgage Broker London OntarioCreated: 8/11/2026, 7:48:18 AM
My Notes
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