As was widely expected, the Fed Open Market Committee (FOMC) policy statement today announced its so-called “Operation Twist” plan, with the goal of further lowering long-term Treasury interest rates. According to its own data, the Fed has a Treasury portfolio of apprx. $1.65 trillion. Basically, the Twist involves the Fed replacing its shorter-term Treasury holdings…
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Political observers on both sides of the aisle definitely agreed that President Obama’s jobs speech on September 8 was absolutely critical for his re-election chances. It had to be something BIG. The aggressive pre-speech hype by the Obama administration led everyone to believe it would indeed be big. And it was! It was yet another…
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