Best summed up by this comment by black swan on the BusinessInsider post:

“@Tom Hunter: ‘indicating that they will use additional asset purchases to help bring actual nominal GDP back to trend over time’

translation: this ship is sinking and we want to stick the taxpayers with trillions of dollars more of our impaired financial sewage, like we did with QE1, AIG and the GSEs, before we get stuck with it and go down with the ship. Allow us to sail away in our own ship, loaded down with looted treasure and flying the Jolly Roger, to the land of offshore accounts.”

In his latest US Economics Analyst note, Goldman’s Jan Hatzius offers up his suggestion for the next phase of Fed policy:

“With short-term interest rates near zero and the economy still weak, we believe that the best way for Fed officials to ease policy significantly further would be to target a nominal GDP path such as the one shown in the chart on the right, indicating that they will use additional asset purchases to help bring actual nominal GDP back to trend over time. The case would strengthen further if deflation risks reappeared clearly on the radar screen.”

Full Story: Goldman Advises The Fed To Go Nuclear, And Set A Target For Nominal GDP (BusinessInsider)