Full report below with open ended...

Full report below with open ended QE3


http://www.ft.com/cms/s/0/ee95102a-fdba-11e1-8fc3-00144feabdc0.html#axzz27R2ghg2q



Last updated:September 14, 2012 1:00 am

Bernanke takes plunge with QE3

By Robin Harding in Washington






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The US Federal Reserve has launched an open-ended effort to spark recovery by injecting an extra $40bn into the economy each month through purchases of mortgage-backed securities.

Unlike previous programmes, the Fed’s third round of quantitative easing – nicknamed QE3 – does not have a defined limit and will continue until the labour market improves.

Combined with its purchases of long-dated Treasuries under the Operation Twist programme, the Fed will be buying assets at a pace of $85bn a month for the rest of the year, similar to its QE2 programme during 2010.