Is quantitative easing the solution to the crisis?

On April 28, 2009, the governor of the Bank of Canada, Mr. Mark Carney, and the senior deputy governor, Mr Paul Jenkins, appeared before the Standing Committee on Finance, on which I sit, to discuss the Bank’s interventions in dealing with the economic crisis. I asked them a question on quantitative easing, which is the method used by the Bank to increase the money supply when interest rates are close to zero. You can also watch this exchange on the following video clip (mostly in French) or read the adapted transcription below. — 5 May 2009