Federal Reserve Purchases $2.2 Billion Treasury Bonds

The Federal Reserve Bank of New York has bought Treasury bonds worth $2.2 billion in accordance with its aim of helping the economy recover by reinvesting cash from maturing mortgage-backed securities and debt for housing agencies back in the market. Dealers offered to sell the bank $11.499 billion in debt maturing from 2021 to 2040. Analysts had expected the Fed to buy close to debt worth $2 billion as part of this initiative. Read more