Fed bets big in new push to rescue U. S. economy
WASHINGTON (Reuters) – The Federal Reserve launched another aggressive stimulus program on Thursday, saying it would pump $40 billion into the U. S. economy each month until it saw a sustained upturn in the weak jobs market. The central bank’s decision to tie its controversial bond buying directly to economic conditions was an unprecedented step that marked a big escalation in its efforts to drive U. S. unemployment lower. Stock prices jumped, while gold hit a six-month high as investors braced for faster inflation. . . .
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