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The Federal Reserve injected 47.25 billion dollars into US money markets Thursday to help ease tight liquidity, the central bank said.
It was the largest single-day cash infusion since September 2001... it had injected the money in three separate operations: 19.25 billion dollars in a one-day operation, 20 billion dollars in a six-day operation and eight billion dollars in a 14-day operation.
However, due to the expiration of other operations, the combined injections produced a net increase...
Originally posted by theRiverGoddess
I wonder how they think money with no backing is going to help?
Originally posted by Gools
Fed pumps 47.25 bln dlrs into US banking system
... The US central (bank) typically buys billions of dollars worth of securities from major banks,
pumping extra cash into the banking system,
which the banks are obliged to repurchase at a later date.
Bid ‘em up, hit ‘em up
Set ‘em up, get ‘em up
Buy ‘em up, tie ‘em up
You can’t fail!
Bring your money, bring your stash
We’re in need of ready cash
Come to the great all-American sale!
Originally posted by Areal51
Seems like the Fed should bail out distressed homeowners with those grisly sub-prime loans. Force those ridiculous rate increases on the loans to come down 8% - 10%. That would be another way to increase liquidity in the banking system, and it would benefit all parties caught in the jam, not just one party.
Come from the east, come from the west,
Pick out the companies you like best,
Closing out all our American stock,
Everything going on the auction block