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📘 Full Timeline of the Fed's Four Rounds of QE (from official data)
#美联储 #QE #宏观
🟦 QE1 (2008–2010)
🔥 Firefighting the Financial Crisis
Start: 2008/11/25
Buy: MBS + Agency Debt + Treasuries
End: 2010/03/31
Scale: Approx. $1.725 trillion
🟩 QE2 (2010–2011)
📉 Continued Support Amid Weak Recovery
Start: 2010/11/03
Buy: $600 billion in long-term Treasuries
End: 2011/06
🟨 QE3 (2012–2014)
🚀 The Most "Open-Ended" in History
Start: 2012/09/13 ($40B MBS/month)
Increase: 2012/12/12 (Total $85B/month)
Taper: 2013/12/18
End: 2014/10/29
🟥 QE4 (2020–2022)
💉 Unlimited Easing During the Pandemic
Start: 2020/03/15
Upgrade: 2020/03/23 (Unlimited)
Stabilized: $120B/month (2020/06–2021/11)
Taper: 2021/11/03
End: 2022/03/16
Balance Sheet: $4.2T → nearly $9T
📌 In a nutshell:
Understand the QE timeline, and you’ll understand the macro cycle; understand the macro cycle, and you’ll understand the pulse of Bitcoin 📈.