Ben Bernanke on 60 Minutes: Doesn't rule out QE3

http://finance.yahoo.com/news/Ben-Bernanke-on-60-Minutes-cnnm-1490415534.html?x=0

Federal Reserve Chairman Ben Bernanke this Sunday will make his second appearance on 60 Minutes, defending the central bank's controversial $600 billion bond buying program.

And he doesn't rule out the possibility that more could be on the way.

"He explains why the Fed announced its intention to buy $600 billion in Treasury securities, defending against charges the move will lead to inflation and not ruling out the purchase of more," CBS said Friday.

The Fed's latest move would mark the central bank's second round of quantitative easing since the financial crisis in the fall of 2008. Nicknamed QE2, it is meant to stimulate the economy by keeping interest rates low and encouraging consumers to spend more and businesses to create jobs.

The plan has drawn a major backlash from both conservatives and global leaders. Critics argue the policy of low interest rates will artificially devalue the dollar, and feed long-term inflation and asset bubbles.