SmallGovTimes.comFed auctions another $50 Billion By: News Bites | Published on 04/08/08 The Federal Reserve, still working to combat the effects of a severe credit squeeze, said Tuesday it had auctioned another $50 billion to cash-strapped banks. Meanwhile, the International Monetary Fund warned that further actions are needed globally to prevent more wrenching problems. The Fed auction marked the ninth in a series that began in December that so far have pumped $310 billion in short-term loans into the nation's banking system. Original URL: http://www.smallgovtimes.com/story/08apr08.fed.auctions.50b/index.html |