National News

Fed taking extraordinary moves to boost economy

In unprecedented moves, the Federal Reserve announced it will keep interest rates very low through mid-2015 and it said it will purchase mortgage bonds at a pace of $40 billion per month. This is on top of a commitment to purchase U.S. Treasury securities at a rate of $45 billion per month through the remainder of 2012. The moves were the latest in the Fed’s efforts to give employment and the economy a boost. The Federal Open Market Committee, led by Fed Chairman Ben . . .

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