September 21 Federal Reserve launches Operation Twist (Yahoo! Finance)
September 21, 2011
"It changed rates maybe 0.1% to 0.2% at the time, but that wasn't enough to get much happening in the economy," said Dean Croushore, chair of the economics department at the University of Richmond and former vice-president of the Philadelphia Fed. "That's the only time we've tried it before, and we lack a good amount of empirical data to figure out how much difference a bigger amount might make."