QE, quantitative easing, was, of course, something we always knew was in the central bankers' tool kit. We always hoped we'd never have to pull it out. It was pulled out in the U.S. to big effect. The jury's still out on measuring the actual effects, but I'm confident that it did have an important boosting effect on the U.S. economy. Certainly it had an effect on long-term interest rates, which matter. It had an effect on confidence, which also mattered quite a lot.
It's important to bear in mind that QE is not over in the sense that all the expansion of the Fed's balance sheet remains in place; they have just stopped adding to it. That's because they can see that the economy is getting traction of its own and that it's self-sustaining, so it's unambiguously good news for us that QE is coming to an end. It means that in their judgment, there is good momentum in the U.S. economy, and that matters a great deal to us.