The Federal Reserve has cut a key interest rate by half a percentage point. It is now at a level where it was once half a century ago. The cut in the interest rate by Federal Reserve has resulted in rallying of markets across Asia.
Government has also started distributig funds which it has acquired for financial rescue package. These steps are aimed at demonstrating that the government is very serious at dealing with the financial crisis which is worst in the country since 1930. The government wants to say that they are taking every possible step to deal with the situation.
Despite everything, the fact remains that it will take some before things will begin to settle. President George Bush has himself said in a public address that the bail-out plan does not necessarily mean that the crisis will end soon. It is going to take time.
The Federal Reserve has cut a key interest rate by half a percentage point. It is now at a level where it was once half a century ago. The cut in the interest rate by Federal Reserve has resulted in rallying of markets across Asia.
Government has also started distributig funds which it has acquired for financial rescue package. These steps are aimed at demonstrating that the government is very serious at dealing with the financial crisis which is worst in the country since 1930. The government wants to say that they are taking every possible step to deal with the situation.
Despite everything, the fact remains that it will take some before things will begin to settle. President George Bush has himself said in a public address that the bail-out plan does not necessarily mean that the crisis will end soon. It is going to take time.
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