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Fed Takes Strong Measures to Boost U.S. Economy
The Federal Reserve has acted aggressively to stimulate the flagging American economy by expanding a bond purchase program and extending its promise to keep interest rates near zero by six months until at least mid-2015.
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The Federal Reserve has acted aggressively to stimulate the flagging American economy by expanding a bond purchase program and extending its promise to keep interest rates near zero by six months until at least mid-2015.
The Fed added a new pledge to keep rates near zero even after the economy rebounds.
The central bank plans to buy $40 billion of mortgage-backed securities per month and to continue the program until the job market improves. The Fed also extended through year-end its commitment to buy $45 billion of U.S. Treasury securities monthly.
Worldwide stock and bond markets rallied on the Fed news as investor's economic confidence rose.
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