Everything you say is correct as I understand things, but some elaboration is in order. "Printing money" is a factually inaccurate rhetorical term meant to emotionally manipulate people with visions of Zimbabwe or Weimar Germany, but fact is that under current law the Federal Reserve and the US Treasury can work in concert to add net financial assets to the private sector's aggregate balance sheet without new fiscal policy. For example while the Fed isn't buying public company equity directly yet, the bond market provides a transmission mechanism for a company to create otherwise worthless or at least discounted equity and sell it at face value to the Fed. Sure from a balance sheet perspective it all balances, because that's how bookkeeping works, but as a practical matter it means more money available to the private sector.