"The Fed is withdrawing stimulus even as more and more of the governors and reserve bank presidents are talking about QE3 ... unless they continue buying securities, some of these bills, bonds, and mortgages mature and run off. That's what is happening now. The portfolio is shrinking just by the natural tendency of things to come to the end of their financial lives. so unless there is some new initiative, the portfolio continue to shrink and as the Fed asset shrinks, so does the stimulus and the accumulation of those assets. i expect that there will be QE3"