Harsh criticism blunts the effect of Fed's bond-buying program

11/21/2010 | Wall Street Journal, The

With the amount of criticism faced by the Federal Reserve for its bond-buying program, traders and investors are starting to doubt that the central bank will expand the program beyond $600 billion, even if the U.S. economy continues to battle high unemployment and drift toward deflation. This doubt has played a big part in an increase of Treasury yields since the Fed announced the program, government-bond buyers said.

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