Fed spends to save

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The US Federal Reserve said it will expand its balance sheets to buy more government and agency debt in an effort to save the economy. Surprising markets at the end of a two-day meeting, the central bank said it will buy up to $300 billion worth of longer-term U.S. government debt over the next six months. Deborah Lutterbeck reports from Washington. SOUNDBITES: Former Federal Reserve Governor Lyle Gramley Josh Bivens of the Economic Policy Institute

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