To help accelerate economic growth, spur job creation and reduce the risk of
inflation falling to undesirably low levels, the Central Bank via the New York
Fed's trading desk will purchase up to $600 billion of long-term Treasury
securities. This approach is referred to as quantitative easing.
The long-term asset purchases are intended to ease financial conditions so
that employment can be stimulated and move the inflation rate to a level
that is consistent with price stability. All these efforts help support economic
recovery.
Sheila McKinney
