Two major announcements hit Wall Street and Washington on Wednesday. The Federal Reserve unveiled its plan to invest $400 billion in Treasury securities in an effort to boost the economy, and Moody's downgraded the ratings of Bank of America, Citigroup, and Wells Fargo. How is all of this going to affect consumers and businesses? And how is divided Washington going to react?
Louise Story, Wall Street and finance reporter for The New York Times, weighs in on what the Fed's investment will mean for the economy, and what the Moody's downgrade means for banks and investors. The Takeaway's Washington correspondent Todd Zwillich discusses how these announcements are being met inside the Beltway.