QE1. QE2. It doesn't matter. The Fed is up against a force beyond its control: Social mood. The trend in mass psychology has shifted from consumption to conservation. Only when that reverses course will sustainable growth follow. http://www.elliottwave.com/freeupdates/archives/2010/11/04/Why-Do-We-Need-QE-2-If-QE-1-Worked-So-Darn-Well.aspx"When markets go up, the Fed seems to be in control; when they go down, it seems out of control. But the control aspect is an illusion." Bob Prechter.
