Irwin Kellner thinks the Fed should take a page from a 1950s maneuver called Operation Twist,...
Irwin Kellner thinks the Fed should take a page from a 1950s maneuver called Operation Twist, which was aimed at decreasing long-term rates relative to short-term rates. Kellner believes flattening the high yield curve could entice banks to start lending again, instead of parking excess cash with the Fed.
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