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Article: News Analysis: U.S. Fed moves aim at stabilizing financial market By Chen Gang
- Article from:
- Xinhua News Agency
- Article date:
- March 17, 2008
CopyrightCopyright 2008 Xinhua News Agency. Provided by ProQuest LLC. (Hide copyright information)
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News Analysis: U.S. Fed moves aim at stabilizing financial market
By Chen Gang
NEW YORK, March 17 (Xinhua) -- The U.S. Federal Reserve's
announcement Sunday to lower its emergency lending rate was the
latest in a series of moves aimed at stabilizing the financial
market, analysts said.
To boost liquidity, the central bank approved a cut in its
emergency lending rate to financial institutions to 3.25 percent
from 3.50 percent in a rare weekend move. Also on Sunday, the Fed,
the Treasury Department and other government agencies gave the green-
light for JP Morgan Chase to acquire Bear Sterns, which was on the
brink of collapse. Since the outbreak of the subprime crisis last
year, the Fed has ...