Fed: More Easing Until Unemployment Below 6.5%

Fed: More Easing Until Unemployment Below 6.5%

by Annalyn Kurtz, CNN

Annalyn Kurtz, CNN
The Fed announced that it plans to expand its controversial stimulus program, known as quantitative easing, to keep long-term interest rates near record lows. It also set explicit economic targets for when it plans to end its easing programs.One economist called it an "historic move," signaling the Fed is putting more weight on the unemployment rate than ever before."This is as aggressive as Fed easing has ever been," said Sherry Cooper, chief economist for BMO Financial Group.http://www.realclearpolitics.com/2012/12/12/fed_more_easing_until_unemployment_below_65_297754.html