The Fed is not buying corporate bonds, only long term mortgages and Treasuries.
They do hold inventories of commercial paper, but those are insignificant.
The direct lending to financial institutions is all wrapped up.
Even with purchase of mortgages/treasuries, there is in effect infusion of fiat in the economy.
This will result in all asset classes, including Bitcoin, receiving a boost.
It's been 7 years already.
The currency component of M0 has not changed from its long term variance. Velocity collapsed after the US government disfigured the financial structure. That is what the added monetary supply is compensating for. Inflation is about to become deflation. They are about to add too little money to the economy.
QE has done nothing except flatten the yield curve, flat and inverted ones usually only reserved for recessions.
With this much buffoonery, they are still accused of having a monolithic master plan with an iron grip on our lives? They aren't the enemy to us having an ideal currency. They will be swept away by Schumpeter's gale and forgotten.
I mean ECB, not FED. Anyway it is all a number game they play, and people are getting suspicious about this game day by day, don't know how long they can hold