I think there's a lot of misunderstanding in the markets about how Fed chairman Ben Bernanke views Fed strategy.
A lot of people seem to think of Bernanke as very much confined to using tools he's already employed. This is one reason we keep hearing about the Fed being "out of bullets" or "shooting blanks." People just keep making the mistake of thinking that there aren't more creative things the Fed can do to address economic problems.
So everyone expects that the Fed will, sooner or later, have to announce a new round of quantitative easing. And this round will look pretty much like the last round:
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