The Fed appears prepared to sustain QE3 for quite some time; the Fed's central tendency forecast for the unemployment rate is between 7.6% and 7.9% at the end of 2013 - not that far below the 8.1% currently. So even after 15 months, the Fed still expects that the unemployment rate will be well above its longer range target of between 5.2% and 6.0%. Furthermore, ISI Group points out that the following statement from Bernanke's press conference was powerful and unprecedented: "If we do not see substantial improvement in the outlook for the labor market, we will continue asset purchases until we do."

David Fuller's view That statement is certainly emphatic but probably better for markets - from equities to gold - than job creation, in my opinion.