FED announces new steps to improve economy

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Source: CCTV.com | 03-19-2009 10:36

The Federal Reserve announced on Wednesday that it will buy up to an additional 750 billion dollars of mortgage-backed securities.

And, it will provide greater support to mortgage lending and housing markets.

US Federal Reserve in Washington, DC.(AFP/File/Karen Bleier)

The Fed also announced it will buy up to 300 billion dollars in long-term Treasury bonds over the next six months.

This is to lower rates on mortgages and other consumer debt. At the same time, the Fed has held a key interest rate unchanged at a record low of between zero to 0.25 percent.

Editor:Zhang Pengfei