Fed Lowers Interest Rates

ECONOMICS

Updated Apr. 21, 2017 4:38PM EDT / Published Jun. 20, 2012 3:05PM EDT

Win McNamee / Getty Images

Good news for consumers, bad news for the stock market. The Federal Reserve announced Wednesday that it will be extending Operation Twist in order to lower the long-term interest rates for millions of consumers and businesses. The Fed said it will continue shifting its portfolio from short to long-term securities through the end of the year. The Fed says it plans to buy $267 billion in longer-term Treasury securities with maturities of 6 years to 30 years and will sell or redeem an equal amount of securities with maturities of 3 years or less. Stocks took a dive after the announcement, but turned mixed by mid-afternoon.

Read it at USA Today

Hackers Steal Large Sum From Anti-Trump Super PAC

The Lincoln Project said hackers set their eyes on a committee vendor, “producing authentic-looking invoices”

Kanye West Wants to Open a Porn Studio: Report

A rep for the embattled artist told TMZ that he’s in “advanced talks” to set up the project as part of his Yeezy company.

Several Crew Injured in Crash on Set of Eddie Murphy Film

Eddie Murphy and the film’s other stars, Keke Palmer and Pete Davidson, weren’t on the set at the time.

‘Giant’ Coyote Spotted Prowling Central Park Spooks Joggers

Brett Cohn said the animal stopped him “in his tracks” on Saturday morning.

Black British ‘Homeland’ Actor Clarifies Blackface Comments

David Harewood initially said actors should be able to play any character, even in blackface, as long as it’s “good.”

Scholz to Putin: Keep Kant’s Name Out of Your Mouth

Olaf Scholz says the Russian president doesn’t have the “slightest right” to cite Imannuel Kant.

Marathoner Sips Glass of Wine at Every Mile, Still Finishes

He blindly taste-tested each glass and correctly identified 21 of them.

India’s Modi Slammed for Calling Muslims ‘Infiltrators’

His campaign speech was seen as an ominous warning for India’s religious minorities if he wins a third term this year.

Fed Lowers Interest Rates

Win McNamee / Getty Images