Direction of monetary-base expansion decisions relative to trend. Separate from fiscal.transfer_expansion even when correlated.
De jure and de facto independence of the central bank from fiscal authority. Per D.1.5 scope, one of the framework's defensible monetary positions.
Federal Reserve Quantitative Easing 3 (QE3), announced 13 September 2012 by the FOMC and expanded 12 December 2012, was an open-ended large-scale asset-purchase programme of USD 40 billion per month in agency-MBS plus USD 45 billion per month in long-term Treasuries beginning January 2013. Purchases continued until tapered between December 2013 and October 2014. The intended effect was to commit to sustained accommodation contingent on labour-market improvement (the "Evans rule" formalised in December 2012), eliminate uncertainty about the exit timing, and complete the Bernanke-era unconventional-monetary-policy framework.
Per invariant 3, reforms are scored by what they did on each channel-separated axis, not by the party that enacted them. This fingerprint is how the policy-match engine finds historical analogues.
Explicit links are curated by the author. Inferred links are hypotheses in the library that test the same axes this policy moved — the framework's answer to "what does the data say about a policy like this?".
Ranked by axis-fingerprint overlap with this policy. Direction match bolded — those are the closest historical analogues. Shape of the match is what drives policy-outcome comparison, not the country or party label.