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Federal Reserve pushes stocks up

Friday 14 Sep 2012 8:38 a.m.

The Federal Reserve in the US has inspired stock markets overnight after announcing how it hopes to stimulate the US economy.

As well as keeping interest rates near zero, chairman Ben Bernanke says the Fed will buy billions of dollars worth of mortgage-backed securities each month for as long as it needs to, in a bid to warm up the real estate market.

Firstline's Rachel Smalley talks to CNBC reporter Brian Shackman in New York.

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