The US Federal Reserve announced on 13 September another round of economic stimulus. The central bank’s Federal Open Market Committee said it was “concerned that, without further policy accommodation, economic growth might not be strong enough to generate sustained improvement in labor market conditions. Futhermore, strains in global financial markets continue to pose significant downside risks to the economic outlook…. To support a stronger economic recovery…the committee agreed today to increase policy accommodation by purchasing additional agency mortgage-backed securities at a pace of $40bn per month.”