While such estimates are by nature quite uncertain, we estimate that the impact could be a reduction in the unemployment rate by the end of 2012 of a little less than half a percent. This would translate into more than 700,000 additional jobs that we would not have had in the absence of this monetary policy action.
In additional comments to Bloomberg News, Rosenberg said:
"Given my forecast, I fully anticipate we will purchase the entire amount. Certainly if the economy were to weaken substantially and further disinflation were to occur, we should take more action," and officials could also make "adjustments" if the economy turned out to be much stronger than expected.