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In November 2010, the Fed announced a second round of quantitative easing, buying $600 billion of Treasury securities by the end of the second quarter of 2011. [ 41 ] [ 42 ] The expression "QE2" became a ubiquitous nickname in 2010, used to refer to this second round of quantitative easing by US central banks. [ 43 ]
On September 13, 2012, the Federal Reserve announced a third round of quantitative easing (QE3). [10] This new round of quantitative easing provided for an open-ended commitment to purchase $40 billion agency mortgage-backed securities per month until the labor market improves "substantially".
It may also soon return to the spotlight if officials end up cutting interest rates this year. ... These purchases were dubbed “quantitative easing,” or QE, by financial experts. The Fed ...
In an effort to spur economic growth, the Federal Reserve engaged in three rounds of quantitative easing, while the federal funds rate was kept near zero for an unprecedented seven years. [14] However, credit remained difficult to obtain for some time, as lending institutions used the newly created cash to shore up their balance sheets. [15]
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When this was considered insufficient to abate the liquidity crisis, the Fed initiated quantitative easing, creating $1.3 trillion from November 2008 to June 2010 and using the created money to buy financial assets from banks and from the government.
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