The Fed is going to buy up $40 billion in mortgage backed securities each month for the foreseeable future. It is trying to inject liquidity and keep rates low to discourage savings and encourage investment and spending. Obviously there will be pressure on bond yields and it should spur the broader stock markets. But it is not clear to me that it will help spur job creation. I'm not concered about inflation in the short term - which some are crying about - because worldwide currencies are weak as a result of the global economic crisis. However, there has to be some erosion in the value of the dollar. As this happens, the cost of oil and gas will rise. Unlike many macro-economic statistics, the price of gas has a big impact on individuals.
The gains of any future improvements in employment will not be felt in the next 50 days, but if oil futures and gas prices rise - as they should - it is likely that this could have an impact on the election. It just depends on how much of an impact it has. It should be interesting to watch.