crisis looming
Posted by arnulfo on 2007/08/10
NEWS ALERT
from The Wall Street Journal
Aug. 10, 2007
The Federal Reserve, in a statement that underscores the deepening severity of developments in credit markets, said it is “providing liquidity to facilitate the orderly functioning of financial markets,” and will pump enough money into credit markets to keep the Fed’s target for the federal funds interest rate at 5.25%. U.S. federal-funds futures early Friday priced in about a 100% chance that the Federal Reserve will reduce its key lending rate by a half-percentage point to 4.75% by the next policy meeting on Sept. 18.
Full article:
http://online.wsj.com/article/SB118673195378094167.html?mod=djemalert
Read the Fed’s statement:
http://online.wsj.com/article/SB118675254324894252.html?mod=djemalert
