Obama Admin Spends More Money On Economy

March 19. 2009

The U.S. Fed has injected the American economy with $1 trillion dollars, whilst President Barack Obama plans to tour in support of his massive, multi-trillion dollar budget.

Fed to pump another $1 trillion into U.S. economy

Published: March 18, 2009 - WASHINGTON: Saying that the recession continues to deepen, the U.S. Federal Reserve announced Wednesday that it would pump an extra $1 trillion into the economy by buying mortgage-backed securities and long-term Treasury issues.

"Job losses, declining equity and housing wealth, and tight credit conditions have weighed on consumer sentiment and spending," the Fed said, adding that it would "employ all available tools to promote economic recovery and to preserve price stability."

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