Joe Weisenthal
Business Insider
9/21/2011
The eagerly awaited Fed announcement is out.
As the economy has been weakening, everyone was wondering whether Bernanke & Co. would juice the economy with more stimulus.
Well we didn’t get another round of quantitative easing, what we got instead is what people have referred to as “Operation Twist.”
As a way of reducing yields further, the Fed is selling bonds at the short-end of its portfolio, and buying bonds at the long end of the portfolio.
Specifically, it’s doing a $400 billion swap.
Markets are drifting a bit lower right now.
The article continues, with graphic, at Business Insider.
