A Federal Reserve survey indicates that the Fed expects to purchase approximately $220 billion in Treasury bonds over the next 12 months.

According to Odaily Planet Daily, a survey of respondents by the Federal Reserve predicts that the central bank's purchases to manage reserves will total more than $200 billion over the next 12 months. Federal Reserve policymakers decided to begin purchasing Treasury bills (T-bills) after determining that reserves in the financial system had fallen to an "adequate" level (a signal of rising short-term funding costs). The Fed stated that it will initially purchase approximately $40 billion in Treasury bills per month, gradually reducing the amount thereafter. So far this month, it has purchased approximately $38 billion.