[simpleman]

True.  But the QE monies are printed out from the air.  The excess if any will need to be destroyed before they can destroy the economy.  When Trump was the President,  he kept scolding Fed before Mar 2019 about the rate hike and QT.  Did Fed listen to him?  Fed stopped 2019 QT around Nov 2019 only after the repo market jumped 10% in Sept 2019 & long-term yield peaked.

https://www.livemint.com/news/world/trum...58927.html

Fed is independent as far as making monetary policy is concerned.  They report monetary matters & policies only to Congress.

https://www.pogo.org/analysis/2019/10/in...al-reserve

So many people warned about printing money out of thin air eversince the GFC. It devalues the dollar, creating the "inflation" phenomenon. But the fed, with the blessings of the ruling class, kept kicking the can down the road because of political expedience. 

Powell was nominated by Trump. Renominated by Biden for a second term. The Senate confirmed his appointment. 

https://www.forbes.com/sites/norbertmich...tructured/