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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Drygulch Dan who wrote (123295)	5/15/2008 4:03:49 PM
From: Jim McMannis	Respond to of 306849

Fed Adds Liquidity and Economy Avoids Recession: John M. Berry bloomberg.com May 15 (Bloomberg) -- The Federal Reserve is supplying the financial system with more than $150 billion in cash, a liquidity cushion that has helped keep enough credit flowing to ensure the economy's growth. After another auction of term funds on May 19, the amount of cash from the Fed will probably top $175 billion. And if the system needs still more, Fed Chairman Ben S. Bernanke said in a May 13 speech, the Fed stands ready to supply it. The financial turmoil stemming from the subprime mortgage debacle has caused most banks to tighten their standards for lending to households and businesses. The 325-basis-point reduction in the Fed's target for the overnight lending rate and the unprecedented amount of cash pumped into the system have helped the economy defy predictions of a recession.