FOMC: QE3 is a go

In the most anticipated FOMC day this year, the FOMC announced today plans to keep rates near zero until mid 2015 -- an extension from the previously stated target of 2014. Bernanke also said the Fed's 'Operation Twist' policy will be extended until year end. After all that, the announcement that most people were awaiting in ally came:

The Federal Reserve will be buying ~$40B of MBS (mortgage backed securities) per month UNTIL THE LABOR MAKRET SUBSTANTIALLY IMPROVES -- basically launching an open-ended quantitative easing program.

Thoughts? Some people are saying Bernanke just won Obama's reelection. I personally don't think he's politicized this decision. (Bush appointed him in the first place, Obama just kept him on).

massive spike today in Obama's relection odds on InTrade, up to 65%.