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Federal Reserve to Buy Additional $600 Billion of Securities to Aid Growth [View All]

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harvey007

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Wed Nov-03-10 01:25 PM
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Federal Reserve to Buy Additional $600 Billion of Securities to Aid Growth

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Source: Bloomberg

The Federal Reserve will buy an additional $600 billion of Treasuries through June, expanding record stimulus and risking its credibility in a bid to reduce unemployment and avert deflation.

Policy makers, who said new purchases will be about $75 billion a month, “will adjust the program as needed to best foster maximum employment and price stability,” the Fed’s Open Market Committee said in a statement in Washington. The central bank kept its pledge to keep interest rates low for an “extended period.”

Read more: http://www.bloomberg.com/news/2010-11-03/federal-reserve-to-buy-additional-600-billion-of-securities-to-aid-growth.html

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