<P> The US Federal Reserve belatedly implemented policies similar to the current quantitative easing during the Great Depression of the 1930s . Specifically , banks ' excess reserves exceeded 6 percent in 1940 , whereas they vanished during the entire postwar period until 2008 . Despite this fact , many commentators called the scope of the Federal Reserve quantitative easing program after the 2008 crisis `` unprecedented '' . </P>
<P> The US Federal Reserve belatedly implemented policies similar to the current quantitative easing during the Great Depression of the 1930s . Specifically , banks ' excess reserves exceeded 6 percent in 1940 , whereas they vanished during the entire postwar period until 2008 . Despite this fact , many commentators called the scope of the Federal Reserve quantitative easing program after the 2008 crisis `` unprecedented '' . </P>
when did the federal reserve start quantitative easing
when did the federal reserve start quantitative easing
during the Great Depression of the 1930s
during the Great Depression of the 1930s