[defertoreptar]

A recession causes deflation, which costs people jobs and quality of life. When the Fed prints money, it's counteracting the deflation. When the balance sheet is trillions or dollars, there is no worry of inflation. The Fed can easily vanish that money supply by selling assets and unwinding bonds.

As you've pointed out, savers lose. In a recession without money-printing, their savings would've been worth much more. As it turns out, preventing job loss and lower quality of life is more politically appealing to decision makers than helping responsible savers.