Federal Reserve Announces Additional Asset Purchases

December 13, 2012 by legitgov

Federal Reserve Announces Additional Asset Purchases 12 Dec 2012 The Federal Reserve's Federal Open Market Committee (FOMC) wrapped up a two-day policy meeting Wednesday, followed by a press briefing by Fed Chairman Ben Bernanke. According to The Associated Press, "the Federal Reserve will spend $45 billion a month to sustain an aggressive drive to keep long-term interest rates low. And it set a goal of keeping a key short-term rate near zero until unemployment drops below 6.5 percent." Bernanke told reporters at the briefing that the Federal Reserve intends to continue asset purchases until the employment situation improves.