Eventually they will be forced to stop due to inflation. They've already created $90 oil, $3.35 gas, high basic metal inputs for manufcaturers, cotton, and food prices. QE will keep pushing them up, but eventually it will hurt the economy. If oil goes up to $100+ will be a big problem, not only for the consumer, but corporate margins are already starting to show signs of margin pressure as they can't pass on rising supply chain input costs to the consumer.
Plus, as QE pushes prices up, it is also pushing rates up, which makes borrowing more expensive - notice how the 10 year Treasury yield has run from 2.35% to 3%+ since QE started?
Agree, but that 14.9x P/E as at historical high margins for US corporates due to cost cutting. Not sustainable. Margins will come does as input costs keep rising (due in part to QE) and as companies start hiring again. If they don't hire, then no recovery, so it's a catch 22.