This paper explores the effect of quantitative easing in the US. It discusses the financial crisis in the US economy and the policy response of the US government. It examines the effect of quantitative easing on various macroeconomic variables of the US economy. The paper researches the impact of quantitative easing on asset prices and inflation. It explores the effect of quantitative easing on employment in the US. Also, it investigates the impact of quantitative easing on GDP and economic growth in the US economy. It probes the effect of quantitative easing on income inequality in the US. Again, it scrutinizes the international spillovers of quantitative easing in the US. Finally, the paper inspects whether quantitative easing may lead to higher inflation in the future and, more importantly, may lead to another economic crisis in the future.