Fed Announces Unlimited QE3

The Fed announces more asset purchases with no end in sight.

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"He'd rather be the Fed chairman who presided over 3 percent inflation than 20 percent unemployment," he says.

Danielle Kurtzleben is a business and economics reporter for U.S. News & World Report. Connect with her on Twitter at @titonka or via E-mail at dkurtzleben@usnews.com.

UPDATED 9/13/12: This story was updated to include quotes from Federal Reserve Chairman Ben Bernanke’s Thursday press conference. CORRECTED 9/13/12: The initial version of this story misstated the Fed’s guidance on low interest rates. The Fed says it believes the federal funds rate is likely to be exceptionally low through mid-2015. This version also corrects a quote from Doug Roberts.