The Fed Launches QE3

The policy, known as quantitative easing and often abbreviated as QE3, entails buying $40 billion in mortgage-backed securities each month. The end date remains up in the air, as the Fed will re-evaluate the strength of the economy in coming months.

The policy “should put downward pressure on longer-term interest rates, support mortgage markets, and help to make broader financial conditions more accommodative,” the Fed’s official statement said.

To read CNN Money article: The Fed Launches QE3

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Tagged as: Ben Bernanke, Bernanke, Business, Fed, Federal Reserve, Federal Reserve System, QE3, Quantitative easing