Quantitative easing is generally
reflected in the expansion of the Monetary Base of the Federal Reserve Bank.
There could be instances wherein monetary expansion in the nature of QE could
be done 'off balance sheet' in the manner of swaps, etc.
But in general, unless the monetary base starts contracting, not just stable,
then QE is still in place. It can change to a form of 'qualitative easing'
without affecting the overall nominal value of the base.