Beginning in late 2015, the Fed attempted to wean itself from its over the top stimulus policy. What they found was their rash policies made the economy pitifully dependent on monetary stimulus. The Fed trusted the economy was at long last mending, and they could remove the stimulus. Eventually, starting in July 2019, the Fed cut the Fed Funds rate three times by an aggregate 0.75%. They then began expanding their balance sheet through a progression of repo activities and Quantitative Easing. The Fed’s balance sheet started expanding again at a pace not seen since the financial crisis. To give further context on the limit of monetary policy in America and around the globe, the chart from Bianco Research shows the Bank of England’s accounting report as a level of GDP since 1700. On the off chance that we center around the previous 100 years, notice the main time frame tantamount to today was during World War ll. Britain was in a decisive fight at the time.