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Federal Reserve expands stimulus

Posted at 6:57 PM, Dec 12, 2012
and last updated 2012-12-12 20:04:06-05

(WTVR) - The Federal Reserve announces an expanded stimulus program that could keep money in your wallet.

The Fed is trying to keep long term interest rates near record lows and plans to buy 45 billion dollars in treasuries and 40 billion dollars in mortgage backed securities each month, until the economy gets back on its' feet.

Long term interest rates impact mortgages, credit cards and business loans.