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Fed Expands Operation Twist By $267 Billion Through Year End
The Federal Reserve will expand its program to replace short-term bonds with longer-term debt by $267 billion through the end of the year in a bid to reduce unemployment and protect the expansion. The continuation of Operation Twist “should put downward pressure on longer-term interest rates and help to make broader financial conditions more accommodative,” the Federal Open Market Committee said today in a statement at the conclusion of a two-day meeting in Washington. “Growth in employment has slowed in recent months, and the unemployment rate remains elevated,” the FOMC said. “Household spending appears ... (full story)
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