The Fed tries to prop up the markets
Submitted by rescueus on Mon, 08/13/2007 - 01:58.Bloomberg reports:
"Treasuries posted their first weekly decline since early July after the Federal Reserve added $62 billion to the banking system to help avert a crisis of confidence in global credit markets."
They'll probably continue to pump in liquidity,'' said Thomas Girard who helps manage $110 billion in fixed income with New York Life Asset Management in New York.
"The Fed's $38 billion in temporary funds yesterday [Friday] was the most since September 2001. "
Jim Cramer led the begging last week and Bernanke seems to be responding.
