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It is correct that quantitative easing (QE) is not exactly the same as just printing money. However, I would hesitate to say equating it to printing money is complete misnomer (although its not accurate analogy either) and I also dont think that your description of QE is completely accurate. QE actually begins with creation of new money. As explained by Fed ...


1

Even though central banks are part of the government they are in most developed countries independent, this is similar to way how courts operate. For example US government has Judicial Branch, where the supreme court justices are part of the government and appointed by president (the same way as chairman of Fed is) but this does not mean government can order ...


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