Cashin is a man in the know. When he opines on the Fed, we should listen.
I think the Fed will keep printing money until it becomes unsustainable. If Cashin is right, the beginning of the end is near. The Fed is running out of assets to buy (just like the ECB) in order to place more money into the system. Now it plans to buy mortgage bonds in a dual pronged attempt to simultaneously keep the bond bubble inflated while recreating the housing bubble.
After the bond bubble bursts, the Fed will begin even more money printing to buy those assets in order to “stabilize” the markets (i.e. a backdoor bailout of the TBTF banks holding all of this paper).