QE3 So Far: Nothing!

Let's give a status update on the QE3 $40 billion/month MBS buying and $45 billion/month U.S. treasury buying.





If we take a look at the federal reserve balance sheet, we see that in October 2012, nothing at all has happened. The amount of treasuries is constant (light brown + orange area). The amount of MBS is also constant. The balance sheet is even shrinking instead of expanding!






Chart 1: Federal Reserve Balance Sheet

This can be confirmed here.






Table 1: Federal Reserve Balance Sheet Detailed

So where is the promised QE3, Mr. Bernanke?

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