Fed plans emergency economic rescue

With new fears of recession the Federal Reserve may be formulating an emergency economic rescue plan. The plan could involve three elements including lending massive amounts of money directly to commercial banks.

Source: Associated Press

Confronting new fears of recession, the Federal Reserve is refining an emergency economic rescue plan that includes further interest rate cuts and billions of dollars in extra cash for the banking system.

The Fed's effort would be aimed at pulling the country ou

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