Originally published on Thu September 13, 2012 12:22 pm
Update at 12:31 p.m. ET. Federal Reserve Announces QE3:
The Federal Reserve announced it would spend $40 billion a month on bond purchases in an effort to stimulate the economy and drive the the unemployment rate down.
The Wall Street Journal says that unlike the first two rounds of Quantitative Easing, this time the Fed will focus solely on buying mortgage-backed securities.
The latest report by the Federal Reserve finds that there was slow to moderate growth in all the Federal Reserve districts, except St. Louis.
What’s known as the Beige Book, or a summary of current economic conditions, is published by the United States Federal Reserve Board eight times a year.
St. Louis Public Radio is a service of the University of Missouri-St. Louis.