NEW YORK: The Federal Reserve will buy a total of $600 billion of bonds under its new stimulus program announced Thursday, known as QE3, and will look for a U.S. unemployment rate of 7 percent before it halts the program, according to the median of forecasts from a Reuters poll on Friday.
Forecasts from 52 economists for the ultimate size of the program ranged from $250 billion to $2 trillion, the poll found.
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