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Ah geez. Well at least we know what all the distraction tactics were about.
Nightly Business Report . Federal Reserve Plans To Buy Government Debt | PBS
Fed to buy long-term U.S. government debt
I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.
Thomas Jefferson, (Attributed)
3rd president of US (1743 - 1826)
Fed to buy long-term U.S. government debt
Shock and awe today from the Federal Reserve. The central bank surprised the financial markets, announcing it'll buy up to $300 billion in longer-term Treasuries over the next six months. This is the first time in more than 40 years the Fed has purchased government debt. As the Fed wrapped up its two-day policy meeting, it also said it will purchase an additional $750 billion of mortgage-backed securities. Add it all up. The Fed is pumping more than $1 trillion into the economy. It hopes this cash injection will boost the economy, making more money available to consumers and businesses. Scott Gurvey reports on the central bank's big gamble.
Nightly Business Report . Federal Reserve Plans To Buy Government Debt | PBS
WASHINGTON (Reuters) – The U.S. Federal Reserve on Wednesday, in a surprise move, said it will buy up to $300 billion worth of longer-term U.S. government debt over the next six months and expand purchases of mortgage-related debt to help ease credit market conditions.
In a statement at the end of a two-day meeting, the central bank's policy panel also said it had decided to hold its target for overnight interest rates in a zero to 0.25 percent range -- the level reached in December.
It said rates would stay low for "an extended period," a more explicit vow to stay on hold for a prolonged time.
"In these circumstances, the Federal Reserve will employ all available tools to promote economic recovery and to preserve price stability," the Fed said.
Fed to buy long-term U.S. government debt
I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.
Thomas Jefferson, (Attributed)
3rd president of US (1743 - 1826)
Fed to buy long-term U.S. government debt