Which of the following statements about quantitative easing (QE) and open-market purchases is true? Multiple Choice QE is similar to open-market purchases in that both are aimed at reducing short-term interest rates in the economy. One way QE and open-market purchases are different is that QE involves longer-term securities and open-market purchases involve short-term securities. QE is done by the U.S. Treasury, whereas open-market purchases are transacted by the Federal Reserve System. QE has to have congressional approval, whereas open-market purchases do not