The Fed and our economy
It’s been a busy few weeks for the Federal Reserve Board. First it offered $200 billion dollars to investment banks to help keep their cash flowing. Then it gave money to JP Morgan to help the firm purchase ailing Bear Stearns. And finally they lowered the short-term interest rate to 2.25%. What does all this tell us about the state of our economy? PETER COY from Business Week joins us to explain it all.
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