The end of QE...again?

The US Federal Reserve is finally concluding its asset purchase programme, a form of monetary stimulus popularly described as quantitative easing (QE).

Actually, to be more accurate, the Fed is ending its third round of QE. It's good to remember that this is Exit No 3, because it means No 4 cannot be ruled out.

The chances that the Fed will have to or want to embark on a fourth round of easing are probably much lower, though. We took a look at how the end of QE3 stacked up against the end of QE1 and QE2, and the US economy does seem to be on firmer footing this time.