David Williams writes helpfully in response to the blog below on QE: “Thanks for your recent explanation of the meaning and impact of Quantitative Easing, which I found really useful. But I think it contains a statement that means the exact opposite of what you want it to mean.
You wrote, “The second myth to dispel is that QE is not about ‘printing money’. “ Surely the widespread myth that you want to dispel is that QE is about printing money. Unless I’ve understood even less than I usually do!”
David, I am grateful to you. You are quite right. The myth that I am trying to dispel is that QE is about printing money. It is not.