What is quantitative easing, and how does it work?

Understand how quantitative easing works, its pros and cons, and its effects on global markets and crypto.
Quantitative easing (QE) is a non-traditional monetary policy tool used by central banks, particularly when interest rates are already low and cannot be reduced further.
It was popularized during the 2008 global financial crisis when traditional monetary tools, like lowering interest rates, were insufficient to stimulate economic growth.