How do governments create money out of thin air?
4:39 minutes · TED-Ed
In March 2020, the COVID-19 pandemic rocked economies worldwide. Millions of people lost their jobs, and many businesses struggled to survive or shut down. Governments responded with some of the largest economic relief packages in history -- the US alone spent 2.2 trillion dollars on a first round of relief. So where did all this money come from? Jonathan Smith explores the strategy of quantitative easing.