Paul L. Kasriel does a white wash

Econtrarian: The main way QE has boosted the American economy has been by the Fed creating credit out of thin air, enabling some entities to increase their current spending without requiring any other entities to cut back on their current spending. Contrary to what the editors of The Economist and many mainstream economic analysts assert (but don’t verify), QE has not boosted the American economy by lowering corporate bond yields.

Close, but too kind. The 'entitiy' increasing current spending is Congress. The thin air is not 'credit' but simple printed money.