Video: Federal Reserve's withdrawal of QE is 'double-edged sword' for pensions A Fed policy statement and comments from Chairman Ben Bernanke started the selling in stocks and bonds on Wednesday. Mr Bernanke said the Fed expects to scale back its massive bond-buying programme later this year and end it entirely by mid-2014 if the economy continues to improve. The bank has been buying $85 billion a month in Treasury and mortgage bonds, a programme that has kept borrowing costs near historic lows for consumers and business.