FOMC pledges to maintain scale of asset purchases
The Federal Open Market Committee (FOMC) on Tuesday said it would reinvest payments on its holdings of agency debt and agency mortgage-backed securities into longer-term Treasury securities, and continue to roll over the Federal Reserve's holdings of Treasury securities as they mature.
The Fed now holds $1.277 trillion worth of federal agency securities and agency mortgage-backed securities, which accounts for 54% of the Fed's balance sheet.
Nine of the ten-member committee backed the move, with
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