From the second and third paragraphs, how was QE expected to affect M1? Does the monetary data {1.41: 1912, excess reserves: and the monetary base) that you looked at in Homeworks #2 and #3 match this expectatiorlf?r From the last paragraph: what does the author warn as a possible consequence of quantitative easing? Go to 'Ihe following link and describe if what the author warned about has come true: hnpjtfffredatlouis fed.orgiseries'PCETRlMlEMISQSFRBDAL