19 September, 2013

CNN Breaking News

In a surprise move, the Federal Reserve said it would continue its bond-buying program for at least another month. The program is designed to stimulate the U.S. economy.

The news sent both the Dow and the S&P to record highs.

Since last September, the Fed has been buying $85 billion in bonds each month in an effort to lower long-term interest rates, particularly on mortgages. The Fed plans to keep that strategy in place for the time being, and will re-evaluate the policy at its next meeting at the end of October.

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