the southboun s&p 500, and congd a budget for the first time all year. >> the economy is continuing toake progress but it has much farther to travel before conditions with be judged normal. notebly, the economy has been expanding at a moderate pace as we expect growth to pick up helped by monetary policies and waning fiscal drag. >> reporter: all this good economic news could mean that it's time for the fertile reserve to ease it's massive monetary program. the bond buying program created to keep interest rates low allowing the economy to steadily improve. the majority of the $85 billion a month bond purchase in qe went to u.s. banks. this with the expectation that those banks would sell government bonds and mortgage-backed securities. however, banks have been holding on to that money and not investing it back into the economy. it was expected the feds bond-buying program would increase the rate of inflation but it has been sluggish. it's a sign of the slow economic recovery. the 1 trillion-dollar investment on part of the feds since 2012 has not spurred the economy. >> i want to thank