by TOM RAUM
The Federal Reserve under Chairman Ben Bernanke is trying to help the economy by doing something President Barack Obama and Congress can't and which Mitt Romney opposes: electronically creating money, mostly out of thin air.
The Fed says it will "buy" $40 billion a month in mortgage bonds until stubbornly high unemployment eases substantially. The Fed's new move is on top of its $85 billion-a-month purchases of Treasury securities under an existing program.
It hopes to hold down long-term interest rates long enough to stimulate more private-sector borrowing and hiring. [MORE]