$40B a month of QE (completely focus on MBS) until at least end of year
Exceptionally low rates pushed out to at least mid 2015.
More or less what was whispered….except that all the QE will be in the mortgage market, rather than a mix of Treasuries and mortgage backed securities.
Big line here —> FOMC: "expects that a highly accommodative stance…will remain appropriate for a considerable time after the economic recovery strengthens"
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