Bullard, Plosser, And Dudley Seem To Be Talking Down The Prospects For More QE

Not that Bullard and Plosser are currently voting members, but it is interesting to see if the Fed is toning it down a bit.  I believe that the closer we get to election time, the more difficult it will be for them to implement a new program without significant deterioration in the data.  For a market where virtually every up day is based on some government policy action or the anticipation of some government policy action, this would be a big deal.  The anticipation of some new money for the IMF over the weekend has been helping the market today and the excitement over LTRO2 remains high.