At the Federal Open Market Committee's meeting in late September, its statement indicated that it would slow the pace of its MBS buying, extend the purchases through the end of the 1Q10 and buy the entire $1.25 trillion.
In the weeks prior to the adjustment, the Fed had been buying an average of $5 billion per day. It slowed the pace down to $4 billion per day in the three weeks following the statement, and in the last report for the period Oct. 15 through 21, the Fed's daily average dropped to $3.6 billion, or $18.1 billion for the week. To date through Oct. 21, the Fed has bought $959.1 billion. With about $291 billion left, this equates to a weekly average of $12.6 billion.