[metaphor]

> I wish instead of QE the government would let people buy much higher amounts of I bonds instead. Seems like a great way to hand out money to people directly instead of via banks.

I think you mean as a supplement to the current QT campaign?

The intent of QE is to stimulate the economy by injecting liquidity into the markets; increasing the limit on annual I bonds purchasable by individuals does the exact opposite of what QE objectively intends by locking that liquidity back up at the Treasury.

At face value, the nominal return on I bonds may be net positive (and perhaps even attractive to some investors in this bear market), but the real return is effectively net zero by design; it's a naive mistake to conflate growth with increase in purchasing power. Besides, when the Fed cut stimulus checks during COVID, their intent was for you to spend, not save by giving it right back to them to hold.