Fed Makes Policy Statement

Here’s today’s Fed’s statement. This is the key part:

“As previously announced, to provide support to mortgage lending and housing markets and to improve overall conditions in private credit markets, the Federal Reserve will purchase a total of up to $1.25 trillion of agency mortgage-backed securities and up to $200 billion of agency debt by the end of the year. In addition, the Federal Reserve will buy up to $300 billion of Treasury securities by autumn.”

The Fed apparently wants to expand the quantitative easing. This will certainly help weaken the U.S. dollar.

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