My position on QE3 hasn’t changed since I made my March 30th call that QE3 would be delayed … but would inevitably come. Â A few hours ago, I received yet another boost of support from Nouriel Roubini, via CNBC, who stated:
“The reality is we’re heading toward recession, and one of the few policy bullets [the Federal Reserve] has left is monetary policy or QE3.”
As a result, Roubini also believes today’s upcoming Jackson Hole summit is irrelevant. QE3 is coming.
Watch the video below for his full details.