QE Effect on Interest Rates

Consensus seems to be growing that the Fed is definitely going to announce some sort of new QE today.  From an academic standpoint QE is supposed to lower interest rates in order to spur lending and economic activity, but as a reminder the last two times that there have been unsterilized printing programs rates have actually risen because QE has created the appearance of inflation.  Only operation twist, a sterilized maturity swap program has been effective at flattening the yield curve.  Below is a chart of the 10 year yield with QE dates highlighted.