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The Fed will buy $1.25T in bonds by the time the latest iteration of QE winds down, according to...

The Fed will buy $1.25T in bonds by the time the latest iteration of QE winds down, according to a Reuters survey of the folks from whom the Fed buys the assets. Estimates gathered from 15 primary dealers ranged from $885B to $1.6T — the majority of those polled believe the central bank will continue to purchase assets into 2014. Meanwhile, Jeffrey "If I Were A Dictator" Lacker (who passed the dissent baton to KC Fed Chief Esther George this year) told a Richmond audience Friday that further bond-buying will only make tightening harder and will not likely have any meaningful effect on growth going forward.
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