QE3 On the Horizon!

The QE3

It loos as though a third round of quantitative easing is coming (QE3).  Not that the last one did much good.  What we really need is a multi-trillion-dollar stimulus package with no fucking tax-cuts.

Aug. 9 (Bloomberg) -- Federal Reserve policy makers are likely to embark on a third round of large-scale asset purchases, moving “more decisively” to secure the U.S. recovery, said Harvard University economist Kenneth Rogoff.

“They certainly should do something right away,” said Rogoff, a former International Monetary Fund chief economist who attended graduate school with Fed Chairman Ben S. Bernanke. It’s “hard to know” if Bernanke would immediately be able to gain the support of Federal Open Market Committee members, Rogoff said in an interview today on Bloomberg Television.