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Following the two-day FOMC meeting, the U.S. Federal Reserve unleashed its most powerful economic package to date as it announced plans to spend a massive amount of money to revive the U.S. economy. The new plan includes purchasing up to $300 billion of long-term treasuries, expanding TALF to include the purchase of other assets, and buying more mortgage securities. When you add it all up, it approaches a staggering $1 trillion of taxpayer money. The tone of the Fed's announcement and the size of the plan demolished the U.S. Dollar against all major currencies and even versus emerging markets.
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