The Bottom Line
The Federal Reserve is injecting $8 billion into the banking system to ease lending concerns over the holidays.
The Federal Reserve is injecting $8 billion into the banking system to ease lending concerns over the holidays. The $8 billion is effectively a 43-day low-interest loan to banks. “The Fed would like to address the liquidity problems in the markets without resorting to the shotgun approach of changing monetary policy,” said Nomura Securities chief economist David Resler. (The New York Times, free registration required)
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