Buying. When I get money, I buy things with it.
When the Fed buys securities from a primary dealer, the primary dealer has an incentive to buy things with it. Or lose interest on the cash.
That depends on how much liquidity you have - for most of the guys out there it’s minus something - and even if it was positive if there’s a recession and job loss looming it’s unwise to spend the money rather then to tuck it away and safe.
It’s kill-the-debt time now and it’s ‘all risks on the table’ time also.
that stimulus is wise to make - but it will need a huge stimulus - most probably larger then what has been decided up to now - and for that huge stimulus there is a sustained need for creditors on happy pills (or with a gun pointed at them).