The Fed calls its decision to rescue the repo market as a "technical" move and not a fundamental change in stance of monetary policy. That may make Jerome Powell, the rest of the Fed governors and the financial markets feel good but we know better. This is the start of QE4.The Fed announced Friday that it will begin buying $60 billion a month of Treasury securities in order to provide liquidity to the overnight market. That's on top of the hundreds of billions in Treasuries it has already purchased.For those keeping score at home, the Fed's balance sheet has expanded from $3.76 trillion at the beginning of September to just short of $4 trillion today. The latest bond buying program would bring the balance sheet back to its record level of $4.5 trillion by the middle of 2020. Hitting $5 trillion by the end of 2020 is also very much in play.Add in that the Fed Funds rate will likely begin heading towards 1% in 2020 and you've got a cheap money environment that rivals anything we saw during the post-financial crisis period. All this during a period of sub-4% unemployment, 1-2% GDP growth and 1.7% inflation.What a time to be alive!What do you think of the Fed's latest announcement? Do you think it's QE4? Comment down below!