Monetary Policy: How the Fed Controls the Economy
Student Worksheet
QE1 bought $600 billion in mortgage bonds in 2008, then QE2 added $600 billion in Treasury purchases and QE3 opened continuous purchases at $40 billion a month. The balance sheet grew from about $900 billion in September 2008 to more than $4 trillion by 2014, and 10-year yields fell from over 4 percent in early 2008 to around 2 percent by mid-2012.
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