• Risk of double-dip receding but recovery sub-par
• Impulse to try and boost jobs understandable but efficacy of more easing not established
• targeted aid to small business may be more appropriate than broad easing
• Fiscal, regulatory policies holding back recovery
• Removing tax and regulatory uncertainty more desirable than bloating Fed’s balance sheet
• BOJ move raises concerns of “competitive quantitative ease”
• Worried about central banks moving beyond government and mortgage debt (like Japan id doing)