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Can the Fed Keep the Economy Alive?

Wednesday, 12 Dec 2012 | 12:15 PM ET

CNBC's Steve Liesman does the math on the Fed's balance sheet and discusses whether QE4 is on the way. Also, Bill Gross, PIMCO founder, and Charles Reinhard, Morgan Stanley talk about the next steps for the Fed and its impact on the U.S. economy. "The Fed is becoming increasingly ineffective," Gross said.