Jimmy Carter did the same thing and we ended up with bad inflation...
'Quantitative easing is sometimes colloquially described as "printing money" although in reality the money is simply shifted to member bank dollar deposits from financial instruments…[
The first step is for the bank to "borrow" from the member bank reserve accounts, creating a depository liability. It can then use these funds to buy investments like government bonds from financial firms such as banks, insurance companies and pension funds, in a process known as "monetising the debt". The net impact on the central bank balance sheet is zero…
1. The national bank declares an extremely low rate of interest, for example 0.5%.
2. The national bank credits its own bank account with money created from 'thin air', probably just by adding to a number on its computer.
3. The newly created money is then used for buying government bonds from financial firms such as banks, insurance companies and pension funds. '