The Federal Reserve issued a new round of stimulus policies to boost the economy

The US Federal Reserve announced on the 13th that in order to stimulate economic recovery and improve the job market, a new round of asset purchase plan (QE3) will be launched, and the ultra-low federal funds rate guide will be extended to mid-2015. The Fed issued a statement on the day after the end of the two-day monetary policy meeting, saying that the Fed is worried that if monetary policy is not further relaxed, the intensity of economic growth will not be enough to bring about continuous improvement in the job market. In order to stimulate economic recovery and employment growth, the Fed decided to purchase $40 billion in mortgage-backed securities each month, but did not specify the total purchase size and execution period. At the same time, the Fed will continue to implement the “reversal operation” of selling short-term government bonds and buying long-term government bonds, and will continue to reinvest the principal of maturing institutional bonds and institutional mortgage-backed securities. In addition, the Fed decided to continue to maintain the federal funds rate in the ultra-low range of zero to 0.25%, and plans to maintain this level at least until mid-2015. The Fed said in a statement that the US economy has continued to grow moderately in the near term, but employment growth has been slow and unemployment has remained high. Although some key commodity prices have recently increased, overall inflationary pressures are moderate and long-term inflation expectations are stable. The Fed said it will pay close attention to economic and financial data for the next few months. If the employment market outlook does not improve significantly, the Fed will consider taking more asset purchases and making rational use of other policy instruments.

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