Fed Begins Buying Treasury Inflation Protected Securities

The Federal Reserve began buying Treasury Inflation Protected Securities as part of its program to replace $400 billion of short- term debt in its portfolio with longer-term Treasury Inflation Protected Securities in an effort to reduce borrowing costs further and counter rising risks of a recession.

The Federal Reserve Bank of New York listed the securities it is considering for purchase during today's operation on its website. http://www.newyorkfed.org/markets/pomo/display/index.cfm

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