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Last month, the Federal Reserve cut interest rates for the sixth time this year in its efforts to restrain the credit crisis. The move that reduced the rate to 1 percent was a shot in the arm for Wall Street, which was up 10.1 percent that week. But what have all these cuts meant for the average consumer?
- IMF works fast to dole out money around the world (USA Today)
www.usatoday.com
Earlier this year, developing countries, boasting sober policymaking and ample financial reserves, seemed to have outgrown the International Monetary Fund. Now, the much-vilified lending body is back in vogue. In the past week, the IMF has doled out $25 billion to Hungary, $16 billion for Ukraine and more than $2 billion for Iceland. More loans are coming.
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