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The Federal Reserve on Wednesday announced that it would pump an extra $1 trillion into the financial system by purchasing Treasury bonds and mortgage securities.
From The International Herald Tribune
Having already reduced the key interest rate it controls nearly to zero, the central bank has increasingly turned to alternatives like buying securities as a way of getting more dollars into the economy, a tactic that amounts to creating vast new sums of money out of thin air.
-Tags: politics, money, economy, federal reserve