This is actually a fuzzy article but it appears they are talking about buying long term Treasury securities.
Reuters: Fed says ready to buy debt to aid economy
The Federal Reserve on Wednesday said it is prepared to buy long-term government debt...
"The committee continues to anticipate that a gradual recovery in economic activity will begin later this year, but the downside risks to that outlook are significant," it said.
A report on Friday is expected to show the economy contracted at a 5.4 percent annual rate in the final three months of last year...
2 comments:
NOTHING NOTHING ABSOLUTELY NOTHING BUT JOBS will save us. The Fed , and every other alphabet soup bureaucracy can shuffle paper around till Hell freezes over and it won't create work. This is Obama's biggest challenge. The business class are almost totally GOP hardcore and u see how they're reacting to this downturn. Just like their grandparents.
Not one GOP Congress critter voted for the stimulus today. Not 1! They gave BV$H every dime he every asked for. They don't learn that's their downfall.
I haven't seen the vote yet, cripes not 1. That is pathetic.
This is an attempt to push banks into lending money.
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