Why the Fed's bold move won't work

The Fed is still trying to jump start the economy. The Fed is expected to purchase hundreds of billions in new assets. This big purchase will supposedly help the economy recover faster. The theory behind this action is the quantitative easing theory which will drop interest further and encourage businesses and consumers to spend more. This will be the second time that the Fed pumps money into the economy. There are of course people that are against this policy. Many say that quantitative easing will not help the economy. Kansas City Fed President Thomas Hoenig referred to it as a "bargain with the devil."