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Bernanke Calls on Congress to Do More
Keywords:
Fed chairman Bernanke estimates the impact of "Operation Twist," will be to bring down long term rates by about 20 basis points, or one fifth of a percentage point. This he said is equivalent to reducing the Fed's benchmark short term rates by half a point. The Fed chairman said he is not ruling out expanding the Fed's portfolio by buying securities, but has no immediate plans for this action.
U.S. Federal Reserve's policy and actions in 2010-2013
08/27/2010
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In Surprise, Fed Decides to Maintain Pace of Stimulus
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Economists See Nominee as Slightly More Dovish Bernanke
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The Yellen Fed? Precise and Predictable
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U.S. Federal Reserve Bank policy emerging from the September 2011 FOMC meeting
09/07/2011
The Fed's policy according to Neil Irwin of the Washington Post, is to move in the direction of reducing the composition of its bond portfolio rather than printing new money for new bond purchases. That policy of printing money for bond purchases came under criticism from Republican presidential candidates and there were three dissenters at the last FOMC meeting. Mindful of this the Fed is now considering a policy called a "switch," of buying more long term bonds and reducing the short term bonds in its portfolio. This would reduce long term interest rates. The impact on the housing market of past and current moves is limited by the fact that the mortgage markets are not functioning properly, as a large proportion of homeowners are under water (owe more than their house is worth). The Fed's effort come under its mandate to keep unemployment in check in addition to inflation.
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Fed considers buying more long-term Treasury bonds to lower mortgage rates - The Washington Post
Washington Post 09/07/2011
Bernanke Takes On a Balancing Act
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Wall Street Journal 09/21/2011
Parsing the Fed: How the Statement Changed
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