Fed, 4 other central banks take steps to help credit markets
By Greg Robb
WASHINGTON (MarketWatch) — The Federal Reserve announced plans Wednesday to ease elevated pressures in credit markets. The Fed will inject cash into the markets through auction of short-term funds. The Fed also announced foreign exchange swap lines with the European Central Bank and the Swiss National Bank. The Bank of Canada is also a partner in the liquidity plan. The first auction will be held on Monday Dec. 17
The Fed’s announcement today in my opinion is a good idea. I believe that with the opening of liquidty into the market coupled with the Rate Freeze Plan will help alleviate the pressure and the downturn in the housing market. The influx of liquidty and the continued Fed Rate cut will assist bringing better rates and deals to buyers. This should have a cascading effect resulting in stablizing of housing market downturn. Only time can tell but I feel that the markets will respond positively to these decisions in the long turn.
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January 1st, 2008 at 5:22 pm
Interesting stuff here
January 7th, 2008 at 11:25 pm
I stumbled here by accident but will stick around!