Fed minutes suggest new bond-buying plan is likely
The Federal Reserve may be preparing to take further steps to stimulate an economy that remains too weak to reduce high unemployment. Minutes of the Fed’s Oct. 23-24 policy meeting released Wednesday suggest that it might unveil a bond buying program in December to replace a program that expires at year’s end. The bond purchases would be intended to lower long-term borrowing rates to encourage spending and strengthen the economy. The hope is that more hiring would follow.