The Federal Reserve Bank of New York plans to buy $2.12 billion in U.S. Treasury bills this week through its open market operations. The purchase is intended to support reserve management and liquidity control in financial markets. The scheduled operation follows the Federal Reserve’s $2.12 billion acceptance of Treasury bills on August 26 through its Reserve Management Purchase program, when dealers submitted $22 billion and roughly 9.6% was accepted. RMPs began in December 2025 at about $40 billion per month, declined to $10 billion by June 2026, and had no additional operations scheduled between mid-August and mid-September 2026. Unlike quantitative easing, the purchases are technical measures designed to maintain sufficient bank reserves and keep short-term interest rates within the Federal Reserve’s target range. Reserves stand at approximately $3.1 trillion, which the central bank considers ample, while the System Open Market Account has grown modestly through RMPs and about $17 billion in monthly reinvestments from maturing agency securities. FOMC Chairman Kevin Warsh has expressed skepticism about large-scale balance-sheet expansion and emphasized flexibility and data dependence.