New York Fed announces QE2 purchase plan


The trading desk at the New York Federal Reserve has detailed how it plans to buy roughly $105 billion-worth of US Treasuries over the course of the next month.

Of the $105 billion, $75 billion of the purchases will be conducted in connection with the Federal Open Market Committee's (FOMC) 3 November decision to buy $600 billion of longer-term Treasury securities by the end of the second quarter of 2011, while the remaining $30 billion relates to the Fed's 10 August decision to reinvest principa

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