Most industrial countries have shared this experience to varying degrees. And that includes the United States. Since the early 1990s, however, the U.S. economy has performed remarkably well and substantially better than other industrial economies. That country has enjoyed a solid, six-and-a-half-year-long economic expansion. Over that period, employment growth has averaged 2 per cent per year.
It has fallen by half since the Governing Council increased the monthly pace of purchases from € billion to € billion in April 2016 – that is, when stock effects started to become more powerful. And it has not visibly increased after the end of net purchases.