If you have no idea what the above quote means, you are not alone.
Here is the origin of the abbreviation "QE" Financial reporters decided a few years ago to accept a new term for what is largely an old concept.
That term is quantitative easing.
Consequently, "QE1" is a reference to the Fed's expansionary monetary policy during the latest serious recession, in 2008 and 2009.
QE2 refers to the Fed's started that in September,2012, with the economy still moving