Fed's Failed Tools - IBD - Investors.com: "Monetary Policy: With the economy seemingly headed for a big slowdown or even a double-dip recession, it's tempting to demand that the Fed print more money. The only problem is, it won't work.
Fed chief Ben Bernanke, speaking last week at the central bank's annual Jackson Hole meeting, promised that the Fed would do 'all that it can' to keep the economy from falling off the table and to stave off deflation.
But he fell short of promising concrete action. Indeed, he pointedly noted, 'central bankers alone cannot solve the world's economic problems.'
He's right. Still, there are those who think the Fed should do more — a lot more. For sheer impact on the economy, none of the things the Fed could do would have the impact or sheer size of what's being called 'QE2' — which stands for Quantitative Easing, Part II."
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