i have read an article about implementing QE3. Nowadays, US is facing the chance of double dip recession, having a high unemployment rate and slow down GDP. External condition further worsens US economy due to increasing worries about Europe debt spreading over, as well as China PMI contraction. If not preventing the further price inflation, US government should have had already push out QE3 to stimulate the economy.
Modern economy shows us an interesting point that, even escaping from the gold standard, it doesn't mean that we can really use monetary policy to stimulate economy as freely as we think of.
http://www.actionforex.com/analysis/daily-forex-fundamentals/chances-of-qe3-rising;-ism-services-report-shows-rocky-road-still-ahead-for-us-20111205154876/
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