To promote
a stronger pace of economic recovery and to help ensure that inflation, over time, is at levels consistent with its mandate, the Committee decided today to continue expanding its holdings of securities as announced in November.
To support a
stronger economic recovery and to help ensure that inflation, over time, is at the rate most consistent with its dual mandate, the Committee will continue purchasing additional agency mortgage - backed securities at a
pace of $ 40 billion per month and longer - term Treasury securities at a
pace of $ 45 billion per month.
«Homes in this year's first quarter were more affordable than they have been at any time in more than 20 years, yet many potential sales are not happening because
of overly tight lending conditions that are keeping hardworking families from obtaining a suitable mortgage,» says Barry Rutenberg, chairman
of the National Association
of Home Builders (NAHB) and a home builder from Gainesville, Fla. «Without this significant hurdle, the housing and
economic recovery could be proceeding at a much
stronger pace.»