Respondents to a survey by the Federal Reserve expect that the central bank's purchases to manage reserves will total more than $200 billion within 12 months. Federal Reserve policymakers decided to start buying treasury notes after determining that the financial system's reserves had fallen to an “adequate” level. The Federal Reserve said it will initially buy about 40 billion US dollars of treasury notes every month, then gradually reduce the scale. Approximately $38 billion has been purchased so far this month.

Respondents to a survey by the Federal Reserve expect that the central bank's purchases to manage reserves will total more than $200 billion within 12 months. Federal Reserve policymakers decided to start buying treasury notes after determining that the financial system's reserves had fallen to an “adequate” level. The Federal Reserve said it will initially buy about 40 billion US dollars of treasury notes every month, then gradually reduce the scale. Approximately $38 billion has been purchased so far this month.