WASHINGTON, DC-The Federal Reserve declared last week that the proceeds from its huge mortgage bond portfolio would be reinvested. The Fed's so-called exit strategy is expected to bring major changes to the monetary and lending polices in the US especially in the control of fed funds rate.
The Federal Reserve strengthened its balance sheet to include $2.2 trillion in mortgage security assets from $940 billion in the period August-November 2008 in order to quell a possibly crippling credit crunch in the country. For the full story, go to Wall Street Journal.
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