We show the underlying costs of QE by the Federal Reserve in terms of much higher inflation that counters the benefits of lower interest rates on the Home Ownership Rate by lowering disposable income for consumers. The Fed giveth on one hand and taketh away with the other hand.
When the all-in costs of QE and ZIRP are fully analyzed, these policies are detrimental to long-term growth fulfillment, healthy functioning financial markets, and capitalism in general. They should only be used as short-term emergency measures by Central Banks. The evidence is quite clear at this point that staying at the zero bound is detrimental to healthy functioning societies.