QE3: Inevitable

On Monday, the "Chicago Fed National Activity Index" fell to –0.45 in April from +0.32 in March.  It's three-month moving average is now below its "trend" line, negative values indicate below average economic growth.  (By the way, this is a weighted average index that uses 85 indicators to measure overall national economic activity.)  Today, durable goods were as follows: -3.6% on expectations of -2.5%.  Therefore, prepare for QE3!