Fed's QE3 Will Help Global Economy, OECD Head Says

(Beijing) – The Fed's recently announced third round of quantitative easing (QE3) will be good for not only the U.S. economy, but the global economy, the head of the Organization for Economic Cooperation and Development (OECD) said.

The move shows confidence because it means that the U.S. Federal Reserve is worried and addressing the economic situation, said Angel Gurría, the secretary-general of the Organization for Economic Cooperation and Development.