SAN FRANCISCO (Reuters) – The Federal Reserve this week is expected to start winding down an epic economic stimulus that is credited with helping the United States claw back from the deepest slump since the Great Depression.
The Fed’s $2.8 trillion “quantitative easing” program has, among other things, lifted stock prices to record highs, driven interest rates to record lows and put a floor under what had been a reeling housing market.
Yet barely a quarter of Americans even know what it is.
A poll leading up to the Fed’s pivotal decision, expected Wednesday afternoon, found just 27 percent of U.S. adults could pick the correct definition of quantitative easing from among five possible answers.
Quantitative easing, or QE for short, is when the Fed buys bonds in order to push down interest rates and boost the economy.
Read More at finance.yahoo.com . By Ann Saphir.