June 21: Fed extends Twist bond program, but delays further action (Miami Herald)
June 21, 2012
Shrugging off financial market pleas for more action, the Federal Reserve on Wednesday extended a controversial bond-buying program designed to lower interest rates but declined to expand into new areas, even as it downgraded its forecast for employment and growth in the sluggish U.S. economy.
The rate-setting Federal Open Market Committee announced, as expected, that it would extend Operation Twist, a program in which it swaps short-term government bonds it now holds for those ...