Mar 19th, 2009 - Reuters
WASHINGTON (Reuters) - The U.S. Federal Reserve said it will start large-scale buying of government debt as part of an extra $1 trillion injection into the ailing economy, sparking a rally in government bonds and trouncing the dollar.
The Fed announced on Wednesday it would buy up to $300 billion of longer term U.S. government debt over the next six months in the first operation on such a scale since the 1960s. It also would expand an existing scheme to buy mortgage-related securities by another $850 billion, to $1.45 trillion this year.
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8:57Money - A Brief History Of The American Dollar - Part 1 of 2
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