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Markets Recover Somewhat After Distrust and Anxiety Ruled Earlier in the Day

Posted by Northern Trust in September 18th 2008  
Markets Recover Somewhat After Distrust and Anxiety Ruled Earlier in the Day The Fed is now not only the “lender of last resort” but also the “investor of last resort”. Today, the Federal Reserve Bank of New York injected a record $105 billion to manage the federal funds rate which has exceed the target rate for four consecutive days (see chart 1, data points stop at 9/17/08). The Fed also made available $180 billion to other major central banks (Bank of England, European Central Bank, Bank of

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Filed under: Fundamental