Bernard Baumohl at the Economic Outlook Group believes the Fed should stop printing money and do some homework on how to end its stimulus efforts. "Our concern is that QE3 may end up tarnishing the Fed's reputation." He is worried the Fed may be ill-prepared when time comes to withdraw stimulus given the unprecedented amount of emergency liquidity already provided. Another case against QE3? Baumohl argues the fiscal cliff will turn out to be a non-issue as either the lame duck session of Congress or the new Congress will extend the deadlines on the tax hikes and spending cuts for several months to give any revamp in Washington a chance to work out a deal.
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