Initially, Quantitative Easing Was Not Much Help in Creating Economic

Initially, quantitative easing was not much help in creating economic growth because

A) banks did not lend out the excess reserves that were created by quantitative easing.
B) the Federal Reserve also increased the required reserve ratio so additional reserves were not available for lending.
C) the Federal government began to cut spending, which counteracted the expansionary monetary policy.
D) the expansion of the monetary base was inflationary.