Fed Buys $40B MBS Monthly, Zero-Rate Policy to 2015

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Sept. 13 (Bloomberg) -- Bloomberg's Mike McKee reports that the Federal Reserve said it will expand its holdings of long-term securities with open-ended purchases of $40 billion of mortgage debt a month in a third round of quantitative easing as it seeks to boost growth and reduce unemployment. The FOMC also said it would likely hold the federal funds rate near zero “at least through mid-2015.” He speaks on Bloomberg Television's "Lunch Money."

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