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CLG Breaking News and Commentary

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.

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