Maybe I’m misreading this whole Fed thing…Maybe Bernanke and Company are coming up with a middle ground program to keep on the shelf in case of emergency to replace the politically unpopular QE3.
So long as they keep sterilized QE-lite in the “break glass in case of emergency” category, it could be a modest dollar positive from the sense that any further Fed action would not be as potentially inflationary as outright QE.
