Fed Won’t Stop Goosing Economy

WASHINGTON – March 21, 2013 – Despite signs of an improving economy, the Federal Reserve said Wednesday that it will continue to pursue an easy-money policy aimed at holding down long-term interest rates and stimulating growth.

In a statement after a two-day meeting, the Fed said it will keep buying $85 billion a month in Treasury bonds and mortgage-backed securities until the labor market improves substantially, echoing its statements since last fall.

The monthly purchases raise bond prices, which pushes down their yields and long-term interest rates broadly, cutting borrowing costs for consumers and businesses.

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