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News Story Source: https://www.cnbc.com, Jeff Cox
Among the initiatives is a commitment to continue its asset purchasing program "in the amounts needed to support smooth market functioning and effective transmission of monetary policy to broader financial conditions and the economy."
That represents a potentially new chapter in the Fed's "money printing" as it commits to keep expanding its balance sheet as necessary, rather than a commitment to a set amount.
The Fed also will be moving for the first time into corporate bonds, purchasing the investment-grade securities in primary and secondary markets and through exchange-traded funds. The move comes in a space that has seen considerable turmoil since the crisis has intensified and market liquidity has been sapped.
Markets initially reacted positively to the moves but headed back lower in early trading, with the Dow Jones Industrial Average down 260 points.
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