Economy - Tuesday (Investor's Business Daily)

[riky]

Economy - Tuesday
    (Investor's Business Daily)

 

Investor's Business Daily - The Federal Reserve auctioned off $50 bil in short-term loans to commercial banks at an interest rate of 2.615%, the lowest rate for any of the auctions conducted so far, in an effort to ease the dangerous credit crisis. It was the eighth auction since the program started in Dec. The central bank has provided a total of $260 billion in loans to squeezed banks to help them overcome credit problems.


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