NEW YORK (Dow Jones)--The Federal Reserve will buy Treasurys maturing in the next six to seven years Monday.
The purchase is the first since the Fed announced its latest buying schedule Friday for December and January. It will buy $105 billion in Treasury debt over the coming month.
The bank said Friday its purchases will include $75 billion done under the new program to buy $600 billion in longer term government bonds by the middle of next year. The remaining $30 billion will be purchases related to reinvestment of the proceeds of the Fed's mortgage holdings.
At 8:04 a.m. EST, the Fed funds rate was trading at 0.2050%, within the central bank's 0%-0.25% target range.
The purchase is the first since the Fed announced its latest buying schedule Friday for December and January. It will buy $105 billion in Treasury debt over the coming month.
The bank said Friday its purchases will include $75 billion done under the new program to buy $600 billion in longer term government bonds by the middle of next year. The remaining $30 billion will be purchases related to reinvestment of the proceeds of the Fed's mortgage holdings.
At 8:04 a.m. EST, the Fed funds rate was trading at 0.2050%, within the central bank's 0%-0.25% target range.