By MARTIN CRUTSINGER, AP Economics Writer | |
Associated Press |
The Fed says the 2011 payment is down from an all-time record of
The Fed began buying Treasury bonds and mortgage-backed securities during the recession and 2008 financial crisis to try to lower long-term interest rates.
Fed officials say such unconventional efforts are necessary until economic growth becomes stronger. Critics have charged that those purchases could ultimately contribute to higher inflation.
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