Fed to let $600 billion bond buying program end in June
Windsor Genova – AHN News News Writer
Washington, DC, United States (AHN) – The Federal Reserve’s policy panel decided Wednesday to keep buying $600 billion in long-term U.S. bonds until June as planned, citing a moderate economic recovery and inflation as reasons to continue the program.
The Federal Open Market Committee was unanimous for the third consecutive time in letting the program expire during a meeting in Washington.
The bond-buying scheme set in November is the second round of quantitative easing designed to keep short-term interest rates near zero and encourage businesses to loan. The economic stimulus was the government’s response to the financial crisis that hit the country in 2008.
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