Fed to buy $600 billion-worth of Treasuries
The Federal Open Market Committee (FOMC) on Wednesday said it intended to buy $600 billion-worth of government debt before the end of June next year in a bid to buoy the United States' flagging economic recovery.
In justifying the decision, the committee said: "Household spending is increasing gradually, but remains constrained by high unemployment, modest income growth, lower housing wealth, and tight credit. Business spending on equipment and software is rising, though less rapidly than
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