[jmherbener]

The Fed tripled the monetary base:

http://research.stlouisfed.org/fred2/series/BASE?cid=124

It did this by buying securities from banks. Banks, in turn, have held most of this additional monetary base as reserves:

http://research.stlouisfed.org/fred2/series/ADJRES?cid=123

Most of this increase in reserves is nothing more than checking account balances that banks hold at the Federal Reserve.

As a consequence of most of the increase in the monetary base being held by banks as reserves, the money stock has increased relatively modestly:

http://research.stlouisfed.org/fred2/series/MZM?cid=30

Even this increase in the money stock has not generated much price inflation, because the demand to hold money increased in the wake of the financial crisis:

http://www.bloomberg.com/news/2013-03-08/offshore-cash-hoard-expands-by-183-billion-at-companies.html

None of these monetary shenanigans by the Fed has averted recession:

http://www.bloomberg.com/news/2012-04-02/five-years-after-crisis-no-normal-recovery.html