Fed To Buy Treasurys 3 Times In Next 2 Weeks

Monetization of the country's debt continues unabated. Inflation is inour future and it's going to get nasty.-Lou

NEW YORK -- The Federal Reserve on Wednesday said it plans to purchase Treasury securities in three operations in the next two weeks, fulfilling policy makers' promise last week to slow down purchases of U.S. debt in the hopes that the program could help keep a lid on borrowing costs for consumers and businesses. It previously held four operations every two weeks. The central bank has already bought $262 billion out of the $300 billion originally stated in March. The Fed will buy debt maturing in 2011 to 2012 on Aug. 24 and 2026-2039 debt on Aug. 26. It will also buy debt maturing in 2012 and 2013 on Sept. 1. After the announcement, the broader Treasury market held onto gains. Ten-year note yields , which move inversely to prices, fell 5 basis points to 3.47%.