Fed Moves To Lower Long Term Interest Rates

Washington, DC, Sept. 22, 2011 -- The Federal Reserve on Wednesday announced a new round of stimulus and reiterated its intentions to keep short term interest rates at current levels until sometime in 2013.

The Fed said it would sell short term debt and buy long term debt in an effort to keep longer term rates low.

It was also pessimistic about near term prospects for the economy and mentioned volatility in both U.S. and overseas markets.

The Fed said it sees "significant downside risks to the economic outlook."