The third quantitative easing was ended by the Federal Reserve two weeks ago. Financial Times regarded the QE as a successful measure to improve the economy, and compared it to the unsuccessful European fiscal consolidation and the Japanese tax raise.

However, the article failed to discuss two of the possible aftermaths of QE. Firstly, monetary value in some countries rose during QE through global cash liquidity. When the QE stopped, asset values depreciated whilst USD cash appreciated. Secondly, QE stimulated the quantity demanded in the stock market; the price stocks exceeded their actual value, causing investors to continue hoping for an increased growth in their stock. When QE ended, the price of stocks dropped immediately, harming the investors.

In conclusion, although the QE eased the lash of the financial crisis by keeping the bulk stock at a constant and encouraging buying and selling in the market, it is not as perfect as the article on Financial Times describes. QE3 both harmed and benefited people and countries when it was declared to be over.