FED thinks about a QE3, but the QE2 as it went?

This week the Federal Reserve is holding its annual conference in Jackson Hole, Wyoming. Speculations abound regarding the concern and the question of whether the Fed will launch another round of "quantitative easing", the QE3, in order to shore up the economy and its failures. Many people think that if the QE2 has not worked, not even the QE3 work.
The quantitative easing is when the Fed buys a specific volume of Treasury securities. Technically, the QE is no different from the normal operations of the Fed's Open Market, since it involves the purchase of bonds on behalf of the Fed, paying with newly created bank reserves.
The QE2 was carried out for eight months, from November 2010 to June 2011. During this period, the Fed has purchased about 566 billion dollars of securities. The QE2 was a bold initiative and a spectacular failure.
During the first 8 months of the QE2, total employment had increased by 420,000 jobs. In the 8 months of QE2 total employment increased by 273,000 jobs. During the 3 quarters of the QE2, real GDP grew at an annual rate of 1.33%, while during the 3 quarters prior to the QE2 was increased by 3.41% per annum.
However, if the Fed's target was to increase inflation, then the QE2 has been a great success. During the first 8 months of the QE2, the figure was an increase of 0.6%, while during the 8 months of the QE2 has increased by 2.3%. If the purpose of the QE2 has been to increase stock prices, again failed. During the 8 months of the QE2, the Dow Jones Industrial Average rose by 9.2%. However, since the price of gold has increased by 20.3% over the same period, the Real Dow or the Dow divided by the price of gold fell by 9.2%. The movements of the Real Dow reflected the relative cost to invest in jobs in the production of goods, like factories or in containers of inflation, like gold.

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