Quantitative Easing's Winners and Losers

What this all amounts to is a bold new approach by the Fed: a minimum commitment of $85 billion a month for the foreseeable future – or until there are signs of a sustainable recovery – with the prospect that central bankers will do still more. What they will get in return is far from certain, but it’s likely that at least some of those celebrating today may not be quite as happy about QE3 in a few months’ time.