NEWSCLOUD

Media with conscience

We publish the most important stories from around the Web:

  • Keep up with breaking news
  • Join in discussions with other readers
  • Suggest stories for our community
SIGN UP Existing members can sign in here

You were looking for:
Fed moves to halt market meltdown

If a week is a long time in politics, then two days in the financial markets can be even longer. Last Wednesday, William Poole, president of the St Louis Federal Reserve Bank, told Bloomberg TV that the subprime mortgage rout did not threaten US economic growth and that only a “calamity” would justify an interest rate cut.

Continue to the story