Central Banks in QE Overdrive to Finance Deficit Spending

Central banks put their printing presses into overdrive this year as governments opened the fiscal floodgates to cushion the economic blow from the coronavirus. The Federal Reserve will purchase assets equivalent to about 13% of GDP in 2020, according to calculations by Bloomberg Economics. The figure for the European Central Bank is 12% and the tallies for the Bank of England and the Bank of Japan are 14% and 8%, respectively.