WASHINGTON (Reuters) - The Federal Reserve on Wednesday warned of significant risks to the already weak U.S. economy and launched a new plan to lower long-term borrowing costs and bolster the battered housing market.
The U.S. central bank said it would sell $400 billion of short-term Treasury bonds to buy the same amount of longer-term U.S. government debt, its latest attempt to kickstart growth that slowed to a crawl over the first half of the year.
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