The Federal Reserve announced the operation of -Reserve Management Purchases (RMP) -, which involves purchasing approximately 40 billion USD worth of short-term U.S. Treasury securities (mainly bills) each month. Since the FOMC meeting in October announced the end of QT, these 40 billion USD in short-term debt are not QE. The Fed's QE typically involves purchasing medium- to long-term government bonds, usually 5 to 30-year bonds, which are intended to stimulate the economy.