he said that Fed members gave 'hints' august 2010 that they were going to announce another asset purchase program (as they did officially in Nov). he also said they expected it to have the same impact on EQUITY prices as it did when they made a similar announcement in march of '09.  he also gave short thrift to tsy bond yields but emphasized the reduction in corporate bond spreads . he said fed has tools to remove stimulus to the system, but gave no hint to doing so, nor to changing the level of short term interest rates, nor really what level of economic strength would trigger them to do so. the Bernanke 'put' is alive and well. IMHO if there is going to be a QE3, they will hint at it (with a decent time lag) prior to the current program's (QE2) expiration in June.