Lack of interest
Perhaps, but, as they say, a little knowledge can be a dangerous thing. I've no confidence that what I'd say is accurate except in the very broadest terms, which Rogin has already given. About all I can confidently say is that quantitative easing increases central bank reserves and thus M0, the measure of the most liquid parts of the money supply. In theory, banks with excess reserves (on which they earn no or negligible interest, depending on the central bank) will be incentivised to lend out those reserves. The details of what happens after that I'm much less certain on, but obviously it's an inflationary action.
Yeah but you know more about this than we do.
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