“On The IOER and Hilsenrath
Bernanke has to do something this week. Most pundits are suggesting it will be more LSAPs (QE). I have trouble with this scenario. To be of any benefit, a new QE would have to be for $600Bn. If QE3 were to be only a paltry $200Bn, it would be received very poorly. I don’t see Ben shooting off a pop-gun this week. He would be better off doing nothing, than something that will fall flat. I think he knows that.”
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