How USA Banks and The Fed Overcome Credit Crisis?
Fed joins global bid to ease credit crisis
The Federal Reserve and central banks around the world yesterday took the extraordinary step of pumping more than $100 billion into financial markets driven by a credit crisis, the largest such intervention since the September 11 terrorism attacks.
In a rare public statement, the Fed said it wanted to ensure financial markets had enough money to continue operating in an orderly fashion.
"In current circumstances," the Fed said, banks "may experience unusual funding needs because of dislocations in money and credit markets."