The Fed considers more stimulus

The Fed has already promised to keep interest rates low until 2013, transfering money from fixed income earners and savers (read Grandma's retirement cash flow) to bank Balance Sheets.

Now they are considering additional alternatives, including QEIII. You know, the policy where they devalue the currency.

At their meeting on Sept. 20 and 21, the central bank’s policy makers will consider next possible steps to help the economy, which could include rejiggering the Fed’s portfolio of bonds; pushing down a 0.25% interest rate it pays banks; restarting a bond-buying program, known as quantitative easing; or doing nothing at all.

Fed Spectrum: Where FOMC Members Stand on Stimulus - Real Time Economics - WSJ
Wed, 7 Sep 2011 13:34:34 UTC

Woopsie. They got it wrong:

At their meeting on Sept. 20 and 21, the central bank’s policy makers will consider next possible steps to help the economy bankers and large corporations, which could include rejiggering the Fed’s portfolio of bonds; pushing down a 0.25% interest rate it pays banks; restarting a bond-buying program, known as quantitative easing transfering money from savers to banks, or devaluing the currency to shore up banker Balance Sheets riddled with ill considered loans; or doing nothing at all.

There. I fixed it.