QE works well. It's just limited in how much impact it can have because it's monetary policy. Fiscal policy is the other half of the equation and one that is much more politically charged. Bernanke did what he could with the tools at his disposal at a time when government was seized with deep partisanship. That's now coming home to roost as liquidity is removed from the system. Luckily, or appropriately, it's happening as unemployment is low and there is finally some upward wage pressure. You only have to look at many countries in Europe to understand what the US would have looked like had we not had the monetary firehose, with all of its imperfections, opened.