The FOMC announcement was nothing new as expected.
If the Fed acts again I think it will be as a result of some crisis or event, and will be done with a better rationale. Bernanke is primarily supporting the big banks with the Fed's activities, and not much of his balance sheet expansion is flowing through to the real economy for a number of reasons, and I think by intent.
This is how the Fed is avoiding the problem of a general monetary inflation. The inflation the US is seeing is largely secular and structural.
