In an unprecedented move, the Federal Reserve announced today that it will purchase up to $40 billion per month in mortgage-backed securities in hopes of bolstering economic recovery. According to USA Today, "the Fed has spent $2.3 trillion since late 2008 buying Treasury and government-backed mortgage bonds in an effort to push down longer-term interest rates that consumers and businesses pay to borrow, and to steer investors from bonds into stocks." Read the full article here.
http://www.usatoday.com/money/business/story/2012/09/13/federal-reserve-decides-to-trigger-third-easing-to-help-economy/57776656/1
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