Markets' Hopes for 'QE3' May Be Overblown

After deploying its heavy artillery to battle the Great Recession, the Federal Reserve appears to lack the “shock and awe” ammo many in the markets may be hoping for to fend off a double-dip recession. Hopes that the Fed will unleash a third round of quantitative easing, preemptively dubbed "QE3," helped send the Dow Jones Industrial Average leaping more than 200 points Tuesday morning. However, instead of a major rescue like QE3, many Fed watchers believe Ben Bernanke's central bank will use Tuesday's highly-anticipated meeting to acknowledge the economy's serious headaches and unveil just incremental steps. Continue reading the article.