The Federal reserve recently launched a $40 billion a month buyback known as QEIII (quantitative easing). The first and second rounds were launched in the aftermath of the global financial crisis. The Federal Reserve is attempting to ease in an unorthodox manner, since interest rates are already close to zero. Morgan Stanley (NYSE:MS) has just released a bombshell report. They predict that a QEIV (QE4) might be next program launched by the Fed. We covered many of the reasons Morgan Stanley mentions, as to why QEIII would likely be a failure. Mogan Stanley does not mention a QEV, but as long as there are enough numericals in the Roman Alphabet for it, why not? Below are some highlights from Morgan Stanley (NYSE:MS): QE3 will likely be insufficient to significantly boost equity markets and we wouldn't be at all surprised to see the Fed dramatically augment this program (i.e., QE4) before year-end, particularly if economic and corporate news continue to deteriorate as they have over the past few weeks.