The Federal Reserve on Thursday opened a major new offensive in the battle to reduce unemployment, launching its most extensive effort to stimulate the economy in the past two years.
The Fed announced a round of bond purchases targeting the mortgage market, a policy commonly known as “quantitative easing.” The central bank said it would purchase $85 billion in bonds a month through the rest of the year, and then $40 billion a month indefinitely until the economy does not need the support.
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