Federal Reserve's Short-Term Treasury Purchases Projected at $220 Billion

According to ChainCatcher, a survey by the Federal Reserve indicates that respondents expect the central bank to purchase approximately $220 billion in short-term Treasury securities over the next 12 months. In December, Federal Reserve policymakers decided to initiate these purchases, citing that reserves in the financial system had fallen to a 'moderately ample' level. The Federal Reserve plans to buy around $40 billion in short-term Treasuries each month and will conduct two additional operations in January.