QE in January? Probably.
The Treasury market certainly believes the Fed will cut rates today given that the 10YR yield keeps pushing higher.
The Fed will take action on the rising 10YR yield and will exercise yield curve control by purchasing 10YR Treasuries in the near future. My guess is that this latest QE round will kick off in January.
This means the growing money supply will grow even faster, further devaluing the Dollar. The Biden and Trump Administrations were fine with destroying the Dollar’s value because both Administrations believe that inflating away the $40 Trillion fiscal debt load is the only way out of debt. This of course is not true. A dramatic reduction in Government spending coupled with a dramatic reduction in income tax rates (yes, we can have both), is a sure way to grow the private sector in sustainable fashion while shrinking the fiscal debt load.