The Federal Open Market Committee met on Jan. 29 and 30 and decided to continue purchasing $40 billion of agency mortgage-backed securities per month and $45 billion of longer-term Treasuries per month.
FOMC members are split on when to end quantitative easing, some favoring as early as the end of this year.
The Fed, faced with a laundry list of economic troubles and stubborn unemployment, decided to go all-in on job growth.
QE3 is bad news for CD investors in the short term, but if it works it could help CD rates recover over the long term.
The European central bank met this week and made no changes to policy, though they may take action in coming weeks.
Fed Chairman Ben Bernanke was on the hot seat today as senators grilled him on Libor, QE3 and the state of the economy.
The group responsible for monetary policy is divided on how to help the economy.
Here we are again. The economy has, as they say, hit a soft patch, and another meeting of the Federal Open Market Committee, FOMC for short, is quickly approaching. The FOMC, the group responsible for setting monetary policy, meets June 19 and 20.
Like the economy itself, the Federal Reserve seems to be locked in a holding pattern.
With mixed signs of an economy in recovery, find out why the Fed left interest rates unchanged.