"It’s difficult to puzzle out what Bernanke thinks he is accomplishing with QE3. The level of bond buying, as various commentators have pointed out, is much lower than in the earlier QE programs. And pulling out bigger guns in the past was not terribly productive. As we wrote in April 2011 in a post titled “Mirabile Dictu! Economists Agree All the Fed Has Done is Goose Financial Markets!“:..."
at http://www.nakedcapitalism.com/2012/09/is-qe3-yet-another-stealth-bank-bailout.html#15u3dCW8cCxervbO.99
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