Sometimes it's best not doing anything at all?

There's a lot of debate on whether QE3 should happen or not. Knowing the fact that there were two rounds of QE that has been done over the past 4 years and it was done on the basis that the whole economy is on the verge of collapse. 

If the feds decided that QE3 wouldn't happen or adopt a wait-and-watch approach, should we all be glad that the economy cycle is coming back to normal? Or we want more liquidity into the economy but eventually causing hyper inflation (which is pretty obvious in many countries) and spinning out of control? 

Full article here: Why Markets Should Cheer QE3 Is Not Coming Soon

Global equity markets are taking a hit from fading expectations that the U.S. Federal Reserve will act again in coming months to boost growth – but maybe investors should be cheering at this prospect, say some analysts.

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They argue that another round of monetary stimulus, widely expected in the form of quantitative easing (QE) by the Fed, would signal dire straits for the U.S. economy and so, the absence of such a move should be taken as a positive sign by investors.

“Any form of QE is a last resort: an admission that other monetary tools are not working. No QE suggests there is no panic,” said Peter Esho, Chief Market Analyst at City Index in Sydney. “So the fact that they (the Fed policymakers) are not pushing ahead with QE is positive and the market tends to forget that.”

Quantitative easing, the buying of government securities to inject capital into financial markets, is seen by economists as an unconventional monetary policy tool used by central banks to boost growth when conventional monetary policy has become ineffective.