- The Washington Times - Wednesday, March 18, 2009

NEW YORK (AP) - The Federal Reserve is keeping Wall Street’s big rally alive with news that it will start buying Treasurys to help open up tight credit markets.

The central bank said it will purchase up to $300 billion of longer-term Treasury securities over the next six months.

The Fed’s announcement accompanied its decision to keep interest rates at historically low levels. It also reiterated Chairman Ben Bernanke’s prediction that government steps should return the economy to sustainable growth.

The Dow Jones industrial average is up 84 at 7,480 after being down nearly 60 before the Fed announcement. Broader indexes are also up sharply.

Copyright © 2018 The Washington Times, LLC. Click here for reprint permission.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.


Click to Read More and View Comments

Click to Hide