Charles Evans is the ninth president and chief executive officer of the Federal Reserve Bank of Chicago. He tweeted the following on Tuesday, November 19:
“Our purchases will continue to be open ended. We may need to purchase 1.5 trillion in assets until January 2015”
As a Federal Reserve president Mr. Evens is fluent in the art of sending cryptic messages. The above tweet is no different.
Deciphering the Modern Day Enigma
What could Mr. Evans have meant? Currently the Federal Reserve is buying $85 billion worth of assets per month. That’s $1.02 trillion per year or $1.19 trillion until January 2015.