US Fed extends Operation Twist

US Fed extends Operation Twist The Federal Reserve extended “Operation Twist” - a plan to sell short-term bonds while purchasing longer-term securities - in order to support the slowing US economic recovery, but refrained from a more aggressive plan to ease monetary policy.
At the conclusion of a two-day meeting in Washington, the Federal Open Market Committee – which sets interest rates – offered a bleaker picture of the US economy than it had at its last gathering two months ago. In particular, the improvement in the labour market seen earlier this year has weakened, and financial stress associated with the eurozone debt crisis has worsened.

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