When the next recession hits the US, the Fed will likely want to print more money to relieve the suffering. Unfortunately, there’s no evidence that the last QE experiment boosted the economy, and I don’t think the next will, either.
QE was nothing but a waste of $4 trillion—or a gift to the rich—at the expense of the poor. For all the crowing about how quantitative easing worked, it mostly helped Wall Street and the top 20% of earners maintain their asset prices.
What is apparent, however, that QE did very little for Main Street. Let’s look at the following charts, which show better than 1000 words what impact QE had on the average American worker and the bottom 90%.
Median household income in the United States is down 8.5% since 2000