QE Timeline Update

With the first Fed Funds rate hike expected soon - maybe next week, maybe in October or December, or maybe early next year - here is an updated timeline of QE (and Twist operations): • November 25, 2008 : Press Release : $100 Billion GSE direct obligations, $500 billion in MBS • December 16, 2008 FOMC Statement : Evaluating benefits of purchasing longer-term Treasury Securities • January 28, 2009 : FOMC Statement : FOMC Stands Ready to expand program. • March 18, 2009 : FOMC Statement : Expand MBS program to $1.25 trillion, buy up to $300 billion of longer-term Treasury securities • March 31, ......(read more)

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