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To support a stronger economic recovery and to help ensure that inflation, over time, is at the rate most consistent with its dual mandate, the Committee agreed today to increase policy accommodation by purchasing additional agency mortgage-backed securities at a pace of $40 billion per month…. If the outlook for the labor market does not improve substantially, the Committee will continue its purchases of agency mortgage-backed securities, undertake additional asset purchases, and employ its other policy tools as appropriate until such improvement is achieved in a context of price stability.
P.P.P.S. Never underestimate the power of blogging! (Even if tenure requires traditional academic publishing.)
2012-09-13 14:01:23
Source: http://macromarketmusings.blogspot.com/2012/09/a-step-in-right-direction.html