To aid Obama in his horrific handling of the economy, the Fed is launching QE3 in an attempt to give him a pre-election boost. It won't work, though. The Fed is firing blanks. They can no longer do anything to provide an economic climate which fosters growth. That's all on Congress and the President, and they all get an F-. Fed Announces New Round of Bond Buying to Spur Growth It's those "other new policies" you really need to watch out for. Perhaps the buying of corporate bonds? Bernanke is setting all kinds of precedents which will bite us in the ass in the long run. Plan for an October surprise. Mid-2015. Jesus H. Christ. Very few people agree. The Fed press release is here: FRB: Press Release--Federal Reserve issues FOMC statement--September 13, 2012 .