Recently, COVID-19 has spread rapidly in the United States, which has had an extremely adverse impact on the American economy. Therefore, the Federal Reserve's stimulus to the economy is unprecedented, and it has launched an indefinite QE policy in monetary policy. 1, what is unlimited QE? The so-called QE is the English abbreviation of quantitative easing policy, which refers to the behavior of the central bank to directly buy securities in the market to provide funds, in short, printing money. In the past, QE had a quota. This time, the Federal Reserve conducted unrestricted QE, which shows that the efforts to provide liquidity to the market are very great. 2. Why not limit QE? First, there is a risk of a sharp drop in the US stock market recently, which has been illustrated by the frequent fuses some time ago. If the US stock market plummets, many fund products in the market will be redeemed by investors, which will definitely lead to a shortage of market liquidity and fail to meet customers' redemption requirements. If so, a large number of financial institutions in the United States will close down, which will have a huge impact on the market. Second, because during the epidemic, many enterprises stopped production, which means that they will be unable to repay their loans without income. Therefore, these enterprises must be provided with sufficient liquidity to obtain funds and avoid large-scale bankruptcy. 3. What does unlimited QE mean? As we all know, the United States has always had a huge trade deficit. This indefinite QE will accelerate the flow of dollars to the world, and the inflation in the global market will intensify, which will also bring some upside to the price of risky assets; In addition, this will adversely affect the value and credit of the US dollar, thus further weakening the status of the US dollar, and the currencies of some emerging market countries will usher in certain opportunities. The above is the introduction of QE unlimited. In terms of investment, everyone should be prepared to deal with inflation; In addition, due to the recent shrinking global supply and demand, cash holdings should also be appropriately increased.