The Federal Reserve on Tuesday lowered short term interest rates to nearly zero. This rate at which banks borrow form each other is now the lowest on record.
The Federal Reserve is also working on getting additional credit to businesses and consumers.
It is hoped the measures can help curb a deepening recession.
Source: http://www.washingtonpost.com/wp-dyn/content/article/2008/12/16/AR2008121601754.html?hpid=topnews
Tags: Federal Reserve, recession
