KRCB Nightly Business Report September 13, 2012
as policymakers wrapped up a two-day meeting, they said they took this action because, without it, economic growth might not be strong enough to create jobs. but the fed's latest rou of quantitative easing, what everyone calls q.e.-3, is different this time. 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...