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Fed Seen Extending Operation Twist

Program aims to lower borrowing cost by extending maturity of the Feds portfolio.

By Steve Matthews and Jeff Kearns, Bloomberg | Updated on June 20, 2012

The Federal Reserve will probably decide today to expand Operation Twist beyond $400 billion to spur growth and buy protection against a deeper crisis in Europe, according to a Bloomberg News survey of economists.

Fifty-eight percent of respondents in a June 18 poll said the Fed will prolong the program, which seeks to lower borrowing costs by extending the average maturity of the securities in the central bank’s portfolio. The current program ends this month.

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