In a further bid to shore up the anemic economy, the Federal Reserve Board will buy $400 billion in long-term Treasury securities by June 30.
The new program, called “The Twist,” after a similar ’60s-era program, means the Federal Reserve will sell its holdings of short term Treasuries to finance its purchases on long-term notes and bonds.
“This program should put downward pressure on longer term interest rates and help make broader financial conditions more accommodative.
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