KQED Nightly Business Report September 14, 2012
the fed will buy mortgage backed securities rather than u.s. treasuries. it will buy $40 billion per month. more importantly, the fed said the buying is open-ended-- it promised to keep buying until the job market "improves substantially." and the fed pledged to keep interest rates "exceptionally low" through 2015. stocks rallied right after the fed announcement. the dow jumped 206 points, the nasadaq rose 41.5, and the s&p added 23 points. fed chairman ben bernanke described todays mo...
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