QE wasn't/isn't inflationary (and I believe the empirics bear this out), it was a dollar for dollar swap of treasuries for reserves. If anything it is/was the

QE wasn't/isn't inflationary (and I believe the empirics bear this out), it was a dollar for dollar swap of treasuries for reserves. If anything it is/was the opposite, removing interest income from the private sector and putting it on the FED's books (which get remitted back to the treasury). (ooh, you're goooood)