Fed Sees ‘Significant’ Risks to Economy as It Eases Policy

Federal Reserve policy makers indicated they are willing to do more to keep the economy from sliding into another recession as they made their second move in as many months to reduce borrowing costs.

The central bank will extend the average maturities of the Treasuries in its portfolio by purchasing $400 billion of long-term debt while selling an equal amount of shorter-term securities, the Federal Open Market Committee said in Washington after ending a two-day meeting yesterday.