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Saving may take the form of increases in bank deposits, purchases of securities, or increased cash holdings.
The bank charter would not allow it to flood the economy with money the way the Fed has done through its huge purchases of securities.
The committee will continue to evaluate its purchases of securities in light of the evolving economic outlook and conditions in financial markets.
The conservative German Bundesbank and its president, Jens Weidmann, were implacably opposed to emulating the Federal Reserve and its large purchases of securities.
The more substantial argument against quantitative easing is that purchases of securities would be ineffectual, given Europe's bank-based financial system.
Administration officials said that by the end of March the Treasury Department would begin making direct purchases of securities backed by loans guaranteed by the Small Business Administration.
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They use the market to finance the purchase of securities.
Bank regulators could put up another obstacle to the purchase of securities on credit.
Now, think about what happens when the Fed makes an open-market purchase of securities from banks.
The program involves the sale of short-term securities to finance the purchase of securities with longer terms, putting downward pressure on long-term rates.
This, in the world of finance, is called "arbitrage": the purchase of securities or currency in one market for resale in another.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com