US Federal Reserve announces $601 billion stimulus
THE US Federal Reserve has announced a bold plan to try to invigorate the economy by buying $US600 billion ($601.93 billion) more in Treasury bonds. The Fed said it would buy the long-term Government bonds by the middle of 2011 to further drive down interest rates on mortgages and other debt. This is in addition to an expected $US250 billion to $US300 billion in Fed purchases over the same period from reinvesting proceeds from its mortgage portfolio. The idea is for cheaper loans to get people to spend more and stimulate…
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US Federal Reserve announces $601 billion stimulus
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on November 3, 2010. Filed under
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