-- QE3 is certain, no matter when it comes it will be impotent.
-- Bernanke argues economic headwinds, slow growth reasons for keeping rates lower and Bill Gross believes that unemployment will remain high in the near future and growth is slowing, so that gives credibility to Bernanke's statement and makes it certain than QE3 is coming.
-- QE3 will create more jobs and reduce unemployment: PIMCO and Gross think so.
-- Bill Gross's view - don't fight the Fed but be wary of consequences going forward.
-- Monetary policy has reached its dead end.
-- End game for Europe: Try to keep as many countries together, alive and kicking and then produce some sustainable economic growth.
Here is the video: