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Posted on 9/18/13 at 1:45 pm to Lsut81
quote:You're leaving out maturities and asset sales over that time period.
55 X 85B = 4.675 T
Posted on 9/18/13 at 1:49 pm to LSURussian
I thought QE3 was originally initiated around the early part of this year???
Posted on 9/18/13 at 1:52 pm to Cmlsu5618
quote:
I thought QE3 was originally initiated around the early part of this year???
What I can find, QE3 started last Sept, QE2 Started in late 2010.... Dunno, I'm assuming theres a QE1?
Posted on 9/18/13 at 1:55 pm to Lsut81
quote:
What I can find, QE3 started last Sept, QE2 Started in late 2010.... Dunno, I'm assuming theres a QE1?
But the $85B in bond buying has only been going on since last Sept. So your 55 months can't be correct. That is what I was refering to. And yes, there was a QE1 but IO don't remember what it was. Lots of vodka has been drunk since then.
This post was edited on 9/18/13 at 1:56 pm
Posted on 9/18/13 at 2:03 pm to Janky
Here it is...
quote:
Quantitative Easing 1 (QE1, December 2008 to March 2010)[edit source | editbeta]
"On November 25, 2008, the Federal Reserve announced that it would purchase up to $600 billion in agency mortgage-backed securities (MBS) and agency debt. On December 1, Chairman Bernanke provided further details in a speech. On December 16, the program was formally launched by the FOMC. On March 18, 2009, the FOMC announced that the program would be expanded by an additional $750 billion in purchases of agency MBS and agency debt and $300 billion in purchases of Treasury securities.
Quantitative Easing 2 (QE2, November 2010 to June 2011 )[edit source | editbeta]
On November 3, 2010, the Fed announced that it would purchase $600 billion of longer dated treasuries, at a rate of $75 billion per month. That program, popularly known as "QE2", concluded in June 2011.
Operation Twist (2011)[edit source | editbeta]
The Federal Open Market Committee concluded its September 21, 2011 Meeting at about 2:15 p.m. EDT by announcing the implementation of Operation Twist. This is a plan to purchase $400 billion of bonds with maturities of 6 to 30 years and to sell bonds with maturities less than 3 years, thereby extending the average maturity of the Fed's own portfolio.[6] This is an attempt to do what Quantitative Easing (QE) tries to do, without printing more money and without expanding the Fed's balance sheet, therefore hopefully avoiding the inflationary pressure associated with QE.[4] This announcement brought a bout of risk aversion in the equity markets and strengthened the US Dollar, whereas QE I had weakened the USD and supported the equity markets. Further, on June 20, 2012 the Federal Open Market Committee announced an extension to the Twist programme by adding additionally $267 billion thereby extending it throughout 2012.
Quantitative easing 3 (QE3)[edit source | editbeta]
On September 13, 2012, the Federal Reserve announced a third round of quantitative easing (QE3).[7] This new round of quantitative easing provided for an open-ended commitment to purchase $40 billion agency mortgage-backed securities per month until the labor market improves "substantially". Some economists believe that Scott Sumner's blog[8] on nominal income targeting played a role in popularizing the "wonky, once-eccentric policy" of "unlimited QE".[9]
The Federal Open Market Committee voted to expand its quantitative easing program further on December 12, 2012. This round continued to authorize up to $40 billion worth of agency mortgage-backed securities per month and added $45 billion worth of longer-term Treasury securities.[10] The outright Treasury purchases as part of the augmented program continued at a pace comparable to that under "Operation Twist"; however, the Federal Reserve could no longer sell short-dated Treasury securities to buy longer-dated ones since they had insufficient holdings of short-dated Treasuries.
Posted on 9/18/13 at 2:03 pm to Janky
No set buying for QE1 other than an initial announcement of $600B in mortgages during Novermber 2008, but you can reverse engineer it. Pre-recession the Fed held between $700-$800B of Treasuries on its balance sheet. By June 2010 it held $2.1T of Treasuries, MBS, and bank debt.
QE2
Nov 2nd, 2010 to June 30th, 2011
The Fed bought $600B in Treasuries
OpTwist (2)
September 21st, 2011
The Fed bought longer-term Treasuries and sold short-term Treasuries but no new dollar amounts.
QE3
September 13th, 2012
Fed buys $40B a month in MBS
QE4
December 12th, 2012
Fed buys $45B a month in Treasuries
So Basically (2100-750)+600+40(11)+45(8)= $2.75T
Not including roll-off purchases of MBS from QE1 and sterlized purchases from OpTwist2
QE2
Nov 2nd, 2010 to June 30th, 2011
The Fed bought $600B in Treasuries
OpTwist (2)
September 21st, 2011
The Fed bought longer-term Treasuries and sold short-term Treasuries but no new dollar amounts.
QE3
September 13th, 2012
Fed buys $40B a month in MBS
QE4
December 12th, 2012
Fed buys $45B a month in Treasuries
So Basically (2100-750)+600+40(11)+45(8)= $2.75T
Not including roll-off purchases of MBS from QE1 and sterlized purchases from OpTwist2
Posted on 9/18/13 at 2:11 pm to BennyAndTheInkJets
Posted on 9/18/13 at 2:15 pm to LSURussian
quote:Don't be talkin' bad about my folks!
I love it when the CNBC talking head 'experts' have egg smeared all over their face.
Posted on 9/18/13 at 2:17 pm to NC_Tigah
I prefer Bloomberg to CNBC, with the exception of Maria Bartiromo.
Posted on 9/18/13 at 2:45 pm to southernelite
quote:meh.
I prefer Bloomberg to CNBC, with the exception of Maria Bartiromo.
CNBC's ticker strip is burned into the bottom of MrsNC's TV screen . . . literally.
Runs it 6a-7p M-F in the background.
Decent network and information IMO.
Posted on 9/18/13 at 2:47 pm to NC_Tigah
Russell just hit historic high.
Posted on 9/18/13 at 2:48 pm to NC_Tigah
I'm having a damn good month in the stock market today.
Thanks, Ben!
Thanks, Ben!
Posted on 9/18/13 at 3:28 pm to LSURussian
quote:+1
I'm having a damn good month in the stock market today.
Thanks, Ben!
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