by Calculated Risk on 10/11/2010 09:23:00 AM

Market participants now expects QE2 to be announced at 2:15 PM ET on November 3rd (when the FOMC statement is released at the conclusion of the two day meeting).

From Steve Liesman at CNBC: Fed Certain to Act in November In a Big Way: Survey

[M]arket participants are now virtually certain that the Federal Reserve will announce [QE2] at the conclusion of its November meeting and do so in a sizeable way, according to an exclusive CNBC Fed Survey. ... participants forecast that the Fed will announce plans to purchase $500 billion in assets ...

The FOMC might announce a large amount - or they might announce a monthly pace of purchases like the $100 billion we've discussed before, with the intention of reviewing the purchase pace at each subsequent FOMC meeting.

Note: This coming Friday, at 8:15 AM ET, Fed Chairman Ben Bernanke will address the tools and goals of QE2 at the Federal Reserve Bank of Boston Conference. His speech is titled: "Monetary Policy Objectives and Tools in a Low-Inflation Environment".