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Federal Reserve announces additional stimulus

The Federal Reserve announced Thursday new actions intended to help stimulate the overall economy.
Compiled by staff 
Published: Sep 13, 2012
The Federal Reserve unleashed a series of aggressive actions Thursday intended to stimulate the still-weak economy by making it cheaper for consumers and businesses to borrow and spend.

Among the actions announced:

  • The Fed will spend $40 billion a month to buy mortgage-backed securities for as long as it needs.
  • Short-term interest rates will remain at record lows through mid-2015.
  • Ready to take other unconventional steps if job growth fails to pick up.
A statement from the Fed's policy committee said it thinks "a highly accommodative stance of monetary policy will remain appropriate for a considerable time after the economic recovery strengthens."

After the announcement, the stock market and gold rallied while the U.S. dollar weakened in financial markets.

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