Federal Reserve policy makers voted unanimously on Wednesday to continue the central bank’s $600 billion plan to spur the recovery by buying government bonds.
As expected, the Fed left its benchmark short-term interest rate — the federal funds rate, at which banks borrow from each other overnight — at a range of 0 to 0.25 percent, unchanged since December 2008.
From December 2008 to March 2010, the Fed bought $1.7 trillion in mortgage-related securities and Treasury securities to stabilize the housing market and provide support to an economy in the grip of recession. The current round of easing — $75 billion a month in bond purchases, starting in November — is supposed to continue through June.
Sunday, January 30, 2011
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