The Federal Reserve is buying $300 Billion worth of long term treasuries over the next few months, and $750 Billion worth of Mortgage backed securities.
They are in effect printing even more money. The last time this was done was 40 years ago. The
Summary of Fed Statement:
http://www.calculatedriskblog.com/2009/03/fomc-buy-300-billion-in-long-term.html
Here are some a very good comments on this latest step:
http://globaleconomicanalysis.blogspot.com/2009/03/bernankes-grand-experiment-continues.html
http://zerohedge.blogspot.com/2009/03/fed-to-buy-treasuries-it-prints-to-fund.html
