QE and QT aren't really anything new. They're mostly just modernish terms given to old ways of doing things. What is unprecedented is hitting 0% interest rates

QE and QT aren't really anything new. They're mostly just modernish terms given to old ways of doing things. What is unprecedented is hitting 0% interest rates nearly everywhere worldwide. When things hit this point, economies are forced to deleverage, to which economists refer to as an 'economic deleveraging'. National economies have gone through deleveragings in the past, and has so far played out in 3-4 ways: -a period of high inflation (which sometimes lead to the collapse of the currency) -a period of deflation (either via a bear market, or a rapid crash) -a long period of almost 0 economic growth (stagnation - AKA 'the soft landing'). -some degree and combination of the above 3 scenarios.