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Fed to launch QE3 of $40 billion MBS each month

qe3

  WASHINGTON β€” By an 11-to-1 vote, the Federal Reserve on Thursday decided to launch a new program of open-ended bond purchases β€” so-called QE3 β€” saying it will buy $40 billion of agency mortgage-backed securities each month, starting Friday. It’s also keeping in place so-called Operation Twist, which consists of swapping short-dated securities for