Getting your player ready...
WASHINGTON — The Federal Reserve said Tuesday it will begin purchasing up to $500 billion in mortgage-backed securities early next month in an effort to bolster the long- suffering housing market.
The Fed first announced it would purchase the securities in late November but did not say when it would begin.
The Fed chose BlackRock Inc., Goldman Sachs Asset Management, Pacific Investment Management Co. and Wellington Management Co. to manage the securities.
