The Federal Reserve announced that it will work with other central banks to inject $200 billion to allow banks to temporary exchange damaged securities with government backed securities or cash. Analysts believe that the Fed's move would ease the market strain. Stocks rose after the announcement as investors were somewhat reassured with the troubling market. The banks would be able to take out the loan for up to 28 days. Investors predict that the Feds would also be cutting interest rates soon.
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Reuters
The International Herald Tribune
