
Feds: Man held for plot to attack N.Y. Federal Reserve building - Federal authorities have arrested a man they say was plotting to blow up the Federal Reserve building in New York City, just blocks from the World Trade Center site. Law enforcement officials stressed that the public was never at risk. Ref. USAToday
The Federal Reserve on Wednesday agreed to continue buying Treasury bonds to keep long-term interest rates low and help support a halting economic recovery. It also said it won't change short-term rates until unemployment rate is below 6.5%. Ref. USAToday
US banks shaken by biggest deposit withdrawals since 9/11:
US Federal Reserve is reporting a major deposit withdrawal from the nation's bank accounts. The financial system hasn't seen such a massive fund outflow since 9/11 attacks. Ref. Source 9
The Federal Reserve on Wednesday said its policymaking comittee has agreed to continue buying $85 billion a month in government bonds to hold down interest rates and stimulate economic growth. Ref. USAToday
In a surprise move, the Federal Reserve said it would continue its bond-buying program for at least another month. The program is designed to stimulate the U.S. Economy.
The news sent both the Dow and the S&P to record highs.
Since last September, the Fed has been buying $85 billion in bonds each month in an effort to lower long-term interest rates, particularly on mortgages. The Fed plans to keep that strategy in place for the time being, and will re-evaluate the policy at its next meeting at the end of October. Ref. CNN
Federal Reserve policymakers last month sharply debated whether to pare back the central bank's bond-buying stimulus, but in the end were largely united in their decision to wait until the evidence show a sustained pickup in economic growth, Fed minutes show. Ref. USAToday
Central bank bond buying will continue at $85 billion a month. Ref. USAToday