The Federal Reserve engaged in QE by bailing out the big banks and keeping interest rates low. The Fed literally took trillions of dollars in bad debt from the big banks and place it on its books where it sits to this very day. It did not take any debt from ordinary consumers. Not only that, but keeping interest rates low has artificially driven up asset prices, which is where the rich have their wealth. This has resulted in the rich getting richer, while at the same time middle class wages have basically remained stagnant.
Is the Fed engaging in socialism for the rich and bankers?