I think QE3 is priced into the bond market but not much in the equities market. That being said, I hope they don't do anything since there isn't anything they can do. It's like pushing on a string.
Quote from GordonTheGekko:
Someone please explain, because I have not discovered this answer in this thread yet,
How on God's green earth can Uncle Benny NOT do something that will help the markets? Is he really going to say no QE or anything else, and ya'll have to suck it up!? It's frankly not out of the question that Buffet's buy in BAC could be fed money with a Hathaway brand on it, and with Obama getting creative (finally) with jobs and big corporations, it seems as though it is INEVITABLE Ben will conjure up something that will rightfully help the markets, and make a rally on Monday.