NEW YORK ( TheStreet) -- In keeping with the "not if but when" shift in sentiment of late about additional monetary stimulus, the predictions about what QE3 may entail are starting to roll in.
Bank of America Merrill Lynch, for one, is expecting the Federal Reserve to go pretty big at its Sept. 12-13 meeting. Here's the firm's characterization of the central bank's thought process: "In our view, the Fed will move when it is comfortable that the growth slowdown is likely to persist."
With the data still pointing in that direction -- Thursday's drop in weekly initial jobless claims aside -- B of A revised its expectations of QE3's parameters to reflect a more aggressive move than previously predicted.
"We now believe that the Fed will extend its forward guidance to "at least through late-2015" on August 1, rather than through 'mid-2015.' We also expect the announcement of a $600bn QE program in Treasuries and MBS
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