The Fed's move to shift $400B into longer-term debt achieved the goal of lowering rates, but...

|By:, SA News Editor

The Fed's move to shift $400B into longer-term debt achieved the goal of lowering rates, but Oppenheimer's chief economist says Operation Twist needs an explanation. "It would be helpful if someone would lay out exactly the economic mechanism that gets us from yet lower interest rates to actual economic activity." So far, Bernanke's post-FOMC meeting pressers (video) haven't quite connected the dots.