QE3 To Be Announced…Tomorrow?

QE3 To Be Announced…Tomorrow?

Last week, Marc Faber commented that he could already smell QE3.  Could we see a little “shock and awe” from Crazy Ben as soon as tomorrow?

Bloomberg reports:

Federal Reserve officials tomorrow may move to bolster investor confidence after an unprecedented downgrade to America’s credit rating and concern the U.S. may be headed for a recession sent global share prices tumbling.

Chairman Ben S. Bernanke and his colleagues may prolong a pledge to maintain record monetary stimulus, said economists at JPMorgan Chase & Co., BNP Paribas and Goldman Sachs Group Inc. The Fed could do so by making a commitment to hold its $2.87 trillion balance sheet steady for an “extended period.” The Fed also may replace shorter-term securities with longer maturities to reduce rates on longer-term debt.

Source – Bloomberg: Bernanke May Move to Boost Confidence