Friday, March 20, 2009

U.S. Central Bank Moves to Pump Up Economy

Massive purchase of assets dwarfs previous actions
With its interest rate hovering around zero, the Federal Reserve — the U.S. central bank — has resorted to unconventional measures to infuse more than $1 trillion into the ailing financial system.
The bank announced March 18 it will purchase $750 billion in mortgage-backed securities and $300 billion in long-term Treasury bonds to bring down costs of home-purchase financing and other types of loans as well as to reduce long-term interest rates.
More information at our web site:

No comments: