Politics & Government

February 10, 2010

Bernanke unveils plan to unwind Fed's massive asset purchases

The Fed's aggressive provision of credit helped prevent a cataclysmic economic meltdown. It purchased complex bonds backed by car loans, student loans, mortgages and commercial loans, and extended huge amounts of short-term credit to keep financial markets from freezing. On Wednesday, Federal Reserve Chairman Ben Bernanke unveiled his strategy to end that massive credit stimulus.

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