Evans, Charles

I’d like to note here that the exact pattern of the reduction in purchases eventually taken isn’t so critical because the path is likely to have only a marginal impact on what is most important — the total amount of purchases that are eventually made. The assumption underlying my current forecast is that by the time we end the program, total asset purchases since January 2013 will be in the neighborhood of $1.25 trillion. This is a very substantial program — one that is about double the size of our QE2 program that we ran between the fall of 2010 and the summer of 2011.