While you were sleeping Fed delivers

Thu, 13 Sep 2012

By Margreet Dietz Sept 14 (BusinessDesk) - US Federal Reserve policy makers made good on a promise to help revive the world's largest economy with a plan for open-ended asset purchases and by pledging to keep its key interest rate at a record low until at least mid-2015. At the end of their scheduled two-day meeting, Fed Chairman Ben Bernanke and his colleagues said they agreed the central bank will buy more assets, at a pace of an additional US$40 billion of mortgage-backed securities per month, until the jobs market returns to health. "The...

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