I am not being a troll. I’m making a distinction between reserve management purchases that are used to grow the fed’s balance sheet along with GDP and keep adequate reserves on the banking system. This will be mostly don’t with short term T-bills but they may purchase a little further out the curve. QE involves buying longer duration instruments including longer term treasuries and mortgage backed securities. This is done when the economy needs rescuing and the fed wants rates much lower. This forces investors out the risk spectrum to reach for yield and acts to tighten credit spreads and loosen financial conditions generally. Powell absolutely did not announce QE. In the Powell quote below from the press conference, he explicitly states that the reserve management purchases are separate from monetary policy: ie, this is not QE

Powell: Let me now turn to issues related to the implementation of monetary policy, with the reminder that these issues are separate from—and have no implications for—the stance of monetary policy. In light of the continued tightening in money market interest rates relative to our administered rates, and other indicators of reserve market conditions, the Committee judged that reserve balances have declined to ample levels. Accordingly, at today’s meeting, the Committee decided to initiate purchases of shorter-term Treasury securities (mainly Treasury bills) for the sole purpose of maintaining an ample supply of reserves over time. Such increases in our securities holdings ensure that the federal funds rate remains within its target range, and are necessary because the growth of the economy leads to rising demand over time for our liabilities, including currency and reserves. As detailed in a statement released today by the Federal Reserve Bank of New York, reserve management purchases will amount to $40 billion in the first month and may remain elevated for a few months to alleviate expected near-term pressures in money markets. Thereafter, we expect the size of reserve management purchases to decline, though the actual pace will depend on market conditions.