Fed's bond-buying program appears to have little effect

12/10/2010 | Wall Street Journal, The

Six weeks ago, officials at the Federal Reserve clashed over launching another controversial round of bond purchases, eventually decided on a $600 billion program. Fed officials are getting ready to assess the initiative, which appears to have had little effect. The program was supposed to drive down long-term interest rates, but they're up sharply. It was expected to cause the dollar to weaken, but it has risen. President Barack Obama's compromise tax plan is adding another factor to the muddled situation, according to The Wall Street Journal.

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Wall Street Journal, The