"In September, the Federal Reserve launched “Operation Twist” to drive down interest rates, reports CNN Money. The idea behind “Operation Twist” is to encourage businesses and individuals to spend and borrow more money. “This program should put downward pressure on longer-term interest rates and help make broader financial conditions more accomodative,” the Federal Reserve said in a statement.
In response to the Federal Reserve’s move, Paul said that it “is just the latest instance of the central bank desperately flailing around doing something merely for the sake of doing something.” Paul added that the Federal Reserve is to blame for the financial crisis and that the “latest action will just exacerbate the problem”..............READ MORE
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