Does this mean that the Fed is gearing up for Quantitative Easing 3 (QE3)?

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This, and another program referred to as Quantitative Easing 3, are intended to push down long-term market-set interest rates to help jump-start the economy.

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It might not be called quantitative easing 3, or QE3.

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After two rounds of quantitative easing, unemployment is still above 9% while annual CPI inflation stands at 3.6%.

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While bond yields on benchmark 10-year Treasuries dropped 4 basis points to 3.70% as the show go on the road on Capitol Hill, Bernanke responded that all of the quantitative easing programs, including QE1, reinvestments, and QE2, had created approximately 3 million jobs.

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