Rosengren Says Renewed Fed Operation Twist to Spur Growth
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Federal Reserve Bank of Boston President Eric Rosengren said the central bank should spur growth and cut unemployment by prolonging a program that lengthens the average duration of bonds on its balance sheet.
Continuing so-called Operation Twist beyond this month would help the Fed meet its congressional mandate to ensure full employment, Rosengren said in an interview with Bloomberg News before a Labor Department report that unemployment in May rose to 8.2 percent.