Basically printing more money and possibly devaluing the dollar. I'm no economist, so does anyone think this is a good idea? And how will this affect the global economy?So the Fed is turning to a policy known as "quantitative easing." Essentially, the Fed is using its license to print money. (Technically, it doesn't have a license, but it knows someone who does.) On Nov. 3, the markets expect the Fed to announce that it has decided to create somewhere between $500 billion and $1.2 trillion that it will then spend to help goose economic growth. Rather than buying space in office parks or forklifts, though, the Fed—which purchases only government-backed assets, like bonds—will probably pick up long-term Treasury debt. The strategy has been termed "QE2" because it is the second time the Fed has used this arcane monetary policy tool. The Fed makes money ex nihilo, pulling it out of thin air rather than taking it from its coffers. Then, it pushes the money into the economy by buying up assets from banks.