Decoding Fed-speak: Economy may require 'QE3' jolt

Commentary: Don't expect miracle fix after presidential election

Since mid-March, markets have assumed a better U.S. economy, moving to self-sustaining ground, with the 10-year Treasury note spiking from 2 percent to 2.35 percent, and mortgages up almost the same amount.

The primary basis for the improved attitude: the Fed’s announcement in March that a third round of quantitative easing ("QE3") was on hold.