When the US Federal Reserve started pumping up its balance sheet once more last October, chairman Jay Powell insisted that such activity should not be seen as another round of "quantitative easing" — the big

So what, exactly, is the Fed doing?

Why is it doing this?

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So the Fed is buying Treasuries again. How is this not QE?

Why is the market so sceptical?

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Why does it matter? Isn't it irrelevant what it's called?