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Saturday, September 1, 2007

US Mortgage relief plan

US credits claims extra $10b
Fri, 31 Aug 2007 14:38:12
Source: Agencies
US President George Bush claims the US economy is robust.

The United State's Federal Reserve injects an additional $10 billion into the financial system amid the developing credits crisis in the US.

The endorsement of the ten billion dollar brings the total of injected funds into the financial system to a $147.25 billion since August 9, 2007.

Federal Reserve aims to facilitate the tightening credit stemming from the arising troubles in the high-risk sub prime mortgage market.

Despite the warnings that the spreading credit turmoil could recess the US economy, the Bush administration has repeatedly claimed that the global growth and the US economic fundamentals are dominant and healthy.

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