Later, the FOMC noted that the monthly pace of purchases was data dependent, allowing the pace to be revised up or down based on its assessment of progress toward its long-run objectives. Both of these types of asset purchase programs were aimed at putting downward pressure on long-term yields.
1 Table 1 provides a summary of various studies’ estimated effects of  1  The Fed staff analysis has focused mostly on the so-called stock effects of the purchase programs – that is, persistent shifts in asset prices observed as the result of a QE program.