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Fed getting more worried about Europe
Add financial turmoil in Europe to the list of the official worries of the Federal Reserve, right behind high unemployment, the depressed housing market, weak consumer spending, and the spike in inflation rates. The Fed announced Wednesday that it would throw a little more wood on the fire in an attempt to heat up the lukewarm U.S. economy. The Fed said it would try to drive long-term interest rates lower by trading $400 billion in short-term Treasurys for longer-term notes and bonds. Read our full coverage of the Fed’s $400 billion bond swap. The announcement of the so-called “Operation Twist” was entirely as ... (full story)
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Those who say it cannot be done should not interrupt those who are doing it