400 Billion: Size of 'Operation Twist' From FOMC

The Fed today announced that it will buy long term bonds and sell short securities - to the tune of 400 billion dollars.

"The Fed announced: "The Committee intends to purchase, by the end of June 2012, $400 billion of Treasury securities with remaining maturities of 6 years to 30 years and to sell an equal amount of Treasury securities with remaining maturities of 3 years or less. This program should put downward pressure on longer-term interest ratesand help make broader financial conditions more accommodative."

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