QE3 ahoy!

The agreement on raising the US debt ceiling, assuming it is voted through, won't see any appreciable spending cuts kick in until after the next presidential election in 2013. But it will prevent any new stimulus for the economy. This leaves any nurturing down to the Federal Reserve if need arises. As James Mackintosh, investment editor, points out, the economy is crying out for help, and the markets are already sighting QE3, the next round of quantitative easing, on the horizon.