WASHINGTON D.C. - The Federal Reserve announced on Thursday a series of aggressive steps designed to kick-start the economy and reduce unemployment.

The nation's central ban says it will keep interest rates very low for the next two and a half years to make home buying more affordable.

It will also buy billions of dollars worth of mortgage debt to stimulate borrowing and spending.

Chairman Ben Bernanke also said that the fed stands ready to try other measures if hiring doesn't pick up.

It seems that's what investors on wall street wanted to hear the dow jones industrial average shot up more than 200 points, reaching its highest point since the start of the great recession.