Fed extends Operation Twist to end of 2012

federal reserve

The Federal Open Market Committee (FOMC) today (June 20) said it would continue its efforts to extend the average maturity of its holdings of securities until the end of the year, adding an extra six months to its previous deadline.

The FOMC gave an assessment of a moderate improvement in the US economy, as has been the case in other recent FOMC communications. But the committee nevertheless felt the need to offer stimulus to aid economic recovery.

"The committee intends to purchase Treasury

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