U.S. Federal Reserve officials extended through the end of the year a program meant to drive down long-term interest rates and signaled that they were "prepared to take further action" if needed amid heightened worry about the economy's performance.
By continuing the program, known as "Operation Twist," the Fed will buy $267 billion in long-term Treasury bonds and notes while it sells short-term Treasurys. The program had been set to expire this month. -- Wall Street Journal
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