Credit Crunch Returns
Abstract:
The credit crunch has reappeared again and has already forced the Federal Reserve Board to make an emergency 0.75% cut in the federal funds rate. Other central banks will likely take similar action. This was done to keep credit available for normal business loans, including construction financing. This round of the financial crisis was set off by two inevitable events.
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The credit crunch has reappeared again and has already forced the Federal Reserve Board to make an emergency 0.75% cut in the federal funds rate. Other central banks will likely take similar action. This was done to keep credit available for normal business loans, including construction financing. This round of the financial crisis was set off by two inevitable events.