Fed Buys $3.4 Billion of Treasuries in Reinvestment Program
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The Federal Reserve bought $3.4 billion of Treasuries as part of a program to reinvest principal payments on its mortgage holdings to prevent money from being drained out of the financial system.
The Fed acquired 12 of the 27 Treasuries listed for possible purchase. The securities mature from August 2016 to November 2018, the New York Fed said in a statement today.