my recollection is that he said QE would have limited effects
You're correct, he did say that back in 2008. See Amezarak's post in response to me upthread.
he says that, contrary to what you suggest, the whole point of QE is to cause inflation
I think he meant that the Fed thought it would cause inflation. But he has said a number of times that if the economy is in a "liquidity trap", printing more money will not cause inflation. (QE is one way of effectively printing more money.)
You're correct, he did say that back in 2008. See Amezarak's post in response to me upthread.
he says that, contrary to what you suggest, the whole point of QE is to cause inflation
I think he meant that the Fed thought it would cause inflation. But he has said a number of times that if the economy is in a "liquidity trap", printing more money will not cause inflation. (QE is one way of effectively printing more money.)