West KY, Miss River County | I guess Frytown touched on it below
I guess that's what we can call it.
The FED is going to buy $45 billion worth of Treasury bonds every month. This is in addition to the $40 billion worth of mortgages it has already said it will buy every month. So, the Fed has promised to increase its balance sheet by $1 trillion per year going forward.
From 2008 to 2012 the Fed increased its balance sheet by 1.8 trillion, a bit less than $1 trillion trillion every 2 years. Now it is doubling the rate of asset purchases that has held since mid-2008.
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It looks like QE3++ is underway.
