US Economy USD1.2 Trillion Stimulus
Published / Last Updated on 18/03/2009
US Economy $1.2 Trillion Stimulus
The US Federal Reserve (the equivalent of the Bank of England) has confirmed plans to buy back $1.2 trillion (£843bn) worth of debt to help boost lending and promote economic recovery.
In a move similar to the Bank of England buying back its Gilts by printing money to release liquidity into banks, the US Fed will be doing the same by buying back US Government Bonds and expand its offer to purchase ‘toxic’ mortgage debt from ailing banks.
The move should boost mortgage lending in the US
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