Fed's MBS Purchase Program: One Week To Go Before Remaining Funds Run Dry

``Since the inception of the program in January 2009, the Fed has spent $1.244 trillion in the agency MBS market, or 99.5 percent of the allocated $1.25 trillion, which is scheduled to run out next Wednesday. With one week left in the program, there is now only $6.1 billion in funding remaining.'' -- In a manner of speaking, of course, since the Fed is just creating this money out of thin air.