From the Washington Post:
The Federal Reserve
on Wednesday renewed a program designed to provide a push to economic
growth amid a warning that hiring is slowing.
The Fed said it would extend “Operation Twist,” a program that
seeks to reduce long-term interest rates, through the end of the year.
The decision was a sign that the Fed is not pulling back from its
years-long campaign to support the U.S. economy.
In its policymaking statement, the Fed said “growth in
employment has slowed in recent months” and made clear it is “prepared
to take further action” in the future.
The Fed “anticipates that
the unemployment rate will decline only slowly toward levels that it
judges to be consistent with its dual mandate,” the statement said.
“Furthermore, strains in global financial markets continue to pose
significant downside risks to the economic outlook.”
- Definition: Operation Twist
