The FED cannot politically start a QE3 program to futher stimulate the stock market, ummm, I mean economy. So they trickle QE2.5 by not directly pumping, but keeping rates effectively zero and continuing to print and "lend".

What about Europe's markets?
Five central banks acted Thursday to shore up confidence in Europe's financial system by giving its banks far greater access to U.S. dollars.

The move buys time for banks that hold large amounts of debt issued by Greece and other financially troubled European countries. Some of these banks have had trouble paying for daily operations because other banks have refused to lend to them any more.

Under Thursday's action, the banks can borrow unlimited dollars for three months, up from the current one-week limit.


I'd call this QE 2.75.

http://www.guardian.co.uk/business/2011/sep/15/world-banks-flood-markets-with-dollars

Question: Previous pumping has caused inflation to rise "unexpectedly". What will more of the same cause?
http://money.cnn.com/2011/09/15/news/economy/inflation_cpi/index.htm

I love this:
On a month-to-month basis, prices rose 0.4% in August, twice the rate of increase forecast by economists surveyed by Briefing.com.

Attention Briefing.com: Survey better economists!