Dr. Peter Morici: What’s Next for the Fed: The People’s National Bank?
Dec 19th, 2008 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The Federal Reserve has cut the federal funds rate and its short-term lending rate to banks to near zero, but those moves have done little to unlock credit markets. Conventional mortgage money and business loans remain too scarce, as regional banks, which are the arteries and capillaries of our credit system, remain short of loanable funds.