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