JK, It's looking that way. The Federal Reserve is in a bad situation and limited to what they can do, kinda similar to the great depression, they had little that they could do as the money supply was at the max and because of the gold standard they couldn't increase the money supply and in fact had to shrink it as cash was redeemed for gold back then. The current situation has the fed with a very large balance sheet and interest rates just above zero now. There is a growing belief that QE was only for Wall street and will have much opposition to more and the negative interest rates are not looking popular and probably not effective either. We still haven't seen the "unintended consequences" of the massive QE and the government induced housing crash has only been dealt with as far as the bankers are concerned and the public is much poorer for it. The retirees that depend on interest rate returns are seeing their savings dwindle and the national dept is ridiculous and with just a 1% interest rate increase will have us back in the trillion a year deficit again. However there's always a wall of worry with Wall Street.
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