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Fed Resumes Easing With $7.229 Billion of Treasuries

The Federal Reserve began a second round of unconventional monetary easing by buying $7.229 billion of Treasuries in attempt to drive down borrowing rates to help reduce unemployment and avert deflation.

Policy makers acquired 16 of the 24 securities maturing from November 2014 through April 2016 that were listed on the Federal Reserve Bank of New York’s website. The acquisitions are part of the Fed’s plan to acquire $600 billion of Treasuries through June and reinvest maturing mortgage holdings.