WASHINGTON — The Fed will continue open-ended programs to purchase longer-term Treasuries at a rate of $45 billion per month and mortgage-backed securities at a rate of $40 billion per month, the Federal Open Market Committee said in a statement released Wednesday following the FOMC's two-day meeting.

The committee is maintaining its existing policy of reinvesting principle payments from its holdings of agency debt and agency mortgage-backed securities and of rolling over maturing Treasury securities at auction. Taken together, these actions "maintain downward pressure on longer-term interest rates, support mortgage markets, and help to make broader financial conditions more accommodative," the FOMC said in its statement.

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