“QE3 Is On!”

The Fed’s statement announcing its third round of quantitative easing is out. The big story is that they will buy $85 billion in new assets including $40 billion in mortgage backed securities every month until the end of the year.

The key here, which differentiates this from QEI and QEII, is that the commitment is open-ended — the Fed has committed to continuing the buys if the economic situation is not significantly improved at the end of the year.

Read more at: www.washingtonpost.com