US Fed Announces $400 Bln "Operation Twist"

The US Federal Reserve has announced it will replace much of the short-term debt in its portfolio¹ with longer-term treasuries².

Following a 2-day meeting, the US central bank has decided³ it will buy 400 billion dollars worth of bonds with maturities⁴ of 6 to 30 years, while at the same time, selling an equal amount of debt maturing in three years or less.

The Fed's move is designed to try to further reduce borrowing costs and keep the economy from dipping into another recession.

The Fed has also decided to hold interest rates at rock-bottom levels at least until the middle of 2013.

For more on the Fed's meetings, we had a chance earlier this morning to speak with Dr. Kevin Jacques, the Boynton D. Murch Chair of Finance at Baldwin-Wallace College in the US.

1 portfolio   

n.公事包；文件夹；大臣及部长职位

参考例句：

• He remembered her because she was carrying a large portfolio.他因为她带着一个大公文包而记住了她。
• He resigned his portfolio.他辞去了大臣职务。

2 treasuries   

n.（政府的）财政部( treasury的名词复数 )；国库，金库

参考例句：

• Yields on Treasuries, Bunds and gilts can remain at historically low levels. 美国国债、德国国债和英国国债的收益率仍然可以维持在历史低位。 来自互联网
• Treasuries and gold rose in response but the dollar fell sharply. 接着，国债和黄金的价格上涨，而美元价格则猛跌。 来自互联网

3 decided   

adj.决定了的，坚决的；明显的，明确的

参考例句：

• This gave them a decided advantage over their opponents.这使他们比对手具有明显的优势。
• There is a decided difference between British and Chinese way of greeting.英国人和中国人打招呼的方式有很明显的区别。

4 maturities   

n.成熟（maturity的复数形式）

参考例句：

• Maturities of commercial paper range from three days to nine months. 商业票据的期限从3天到9个月不等。 来自互联网
• German federal government bonds issued with maturities of up to 30 years. 指期限可长达30年的德国联邦政府债券。 来自互联网