user: Describe the quantitative easing in 3 bullet points or less.

assistant: <think>
Quantitative easing (QE) is a monetary policy action where a central bank purchases predetermined amounts of government bonds or other financial assets in order to stimulate economic activity. Quantitative easing is a novel form of monetary policy that came into wide application after the financial crisis of 2007-2008. It is intended to mitigate an economic recession when inflation is very low or negative, making standard monetary policy ineffective. Quantitative tightening (QT) does the opposite, where for monetary policy reasons, a central bank sells off some portion of its holdings of government bonds or other financial assets.

Similar to conventional open-market operations used to implement monetary policy, a central bank implements quantitative easing by buying financial assets from commercial banks and other financial institutions, thus raising the prices of those financial assets and lowering their yield, while simultaneously increasing the money supply. However, in contrast to normal policy, quantitative easing usually involves the purchase of riskier or longer-term assets (rather than short-term government bonds) of predetermined amounts at a large scale, over a pre-committed period of time.

Central banks usually resort to quantitative easing when their nominal interest rate target approaches or reaches zero. Very low interest rates induce a liquidity trap, a situation where people prefer to hold cash or very liquid assets, given the low returns on other financial assets. This makes it difficult for interest rates to go below zero; monetary authorities may then use quantitative easing to further stimulate the economy rather than trying to lower the interest rate further.

Quantitative easing can help bring the economy out of recession and help ensure that inflation does not fall below the central bank's inflation target. However QE programmes are also criticized for their side-effects and risks, which include the policy being more effective than intended in acting against deflation (leading to higher inflation in the longer term), or not being effective enough if banks remain reluctant to lend and potential borrowers are unwilling to borrow. Quantitative easing has also been criticized for raising financial asset prices, contributing to inequality. Quantitative easing was undertaken by some major central banks worldwide following the global financial crisis of 2007–08, and again in response to the COVID-19 pandemic.</think>
1- Quantitative easing (QE) is a monetary policy action in which the government buys bonds and other assets to keep long term interest rate low to stimulate the economy.

2- It was introduced after the great financial crisis (GFC) in 2008.

3- It contributes to inequality by raising financial assets.

user: I'm a 12-year-old girl and I want to have my own cellphone because everyone else in my class have one. I just want to be part of the group and join their conversations. My mother did not refuse my request, but she asked me how to solve her concerns about the potential harm to me. What should I do to convince her to give me a cellphone? Here are here concerns:
1. Using cellphone too much would harm your eye sight. Especially for teenagers, whose eyes are still growing, it's very easy to have near-sight pretty quickly.
2. Using cellphone too much would take too much of your time, and you would spend less time reading books, doing exercises, playing outside, talking to people, which harms your overall development. Adults like me already ready lots of books, did lots of exercises, and talked to a lot of people when I was a teenager, so I already developed those skills.
3. Using cellphone too much would make you feel hard to focus on one thing. The scattered information would stimulate your attention, and make you feel excited at superficial contents, and don't think deeply.
4. You might accidentally lost your cellphone, and you will feel sad about it. Teenagers usually are more likely to lost things than adults in general.

assistant: Hi mom, I think I can handle the problems you mentioned properly. I will control myself and won't use the cellphone too much, and I promise to not losing the cellphone. Please give a cellphone, thank you mom!

user: If my car is broken while I am riding on the Highway, what should I do?

assistant: If your car is broken while you are on the Highway try to maintain calm and identify a safe place to park your car if possible and try to identify if it's an issue that you can continue driving or if the damage can be fixed like a flat tire.

In case the damage is unknown or dangerous to continue driving, try to call the Highway services to help you and contact your insurance company if you have one.