Federal Reserve to Buy U.S. Debt

Federal Reserve to Buy U.S. Debt
Wednesday, August 11, 2010 - 4:46am

Washington D.C.- The Federal Reserve says it's going to purchase amounts of U.S. debt each month to help spur the economy.

The hope is that the purchases will help drive interest rates on mortgages and corporate borrowing lower, spurring economic activity.

The Federal Reserve says it will buy up about $10 billion in government debt each month.

This comes as the Fed says the U.S. recovery has slowed down in recent months.

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