Fed acts to ensure cash flow of non-financial firms
Fed acts to ensure cash flow of non-financial firms WASHINGTON: Opening a new front in an all-out war against the global credit crunch, the United States government announced yesterday a radical plan to buy massive amounts of short-term debts. The new initiative is necessary, United States Federal Reserve chairman Ben Bernanke warned yesterday, as the financial crisis has not only darkened the country’s current economic performance but could also prolong the pain. The Fed chief’s more glo
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