I don't think the current U.S. financial environment needs an additional easing; QEⅡ. At this point, further expansion of the Fed's balance sheet could be more harm than benefit. It's too early to square up the widely-scattered opinions at this point. We would have to contemplate the cost and benefit of the additional asset purchases with an eye to the exit. I’m the one of those who are seriously worried that the excess liquidity begins to exert a bad impact on the unintended area such as commodity markets or emerging countries.
On the other hand, the level of the price is certainly too low as financial officials seriously express their concerns. Being very difficult to conquer the deflation once we would be trapped by, we should reduce that risk whatever it'll take right now. So I assume that the setting of the simple and clear-cut price-level target is very effective to stabilize and then increase the price.
Taking into consideration the fact that the recovery in the function of interest rate is a prerequisite condition for the health of the financial system, the current U.S. economic condition provide a strong reason for the efficiency-oriented action to boost the price.
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