The US Federal Reserve has issued a press release detailling a number a moves that together will see over $1 trillion pumped into the US economy.
To help improve conditions in private credit markets, the Fed will purchase up to $300 billion of longer-term Treasury securities over the next six months.
To provide greater support to mortgage lending and housing markets the Fed will purchase up to $750 billion more agency mortgage-backed securities, bringing its total purchases of these securities to up to $1.25 trillion this year.
The immediate effect of the move was to send US stock markets, gold and other commodities higher.