Fed Tries to Help Credit Market

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The Federal Reserve has taken its strongest action yet to unfreeze the credit markets.  Chairman Ben Bernanke, speaking to a business group in Washington this afternoon, announced "a new facility that will help provide liquidity to term funding markets by purchasing three-month commercial paper and asset-backed commercial paper directly from eligible issuers." Peter Coy is economics editor at BusinessWeek magazine.

Credits

Guest:
Peter Coy - Bloomberg BusinessWeek

Host:
Warren Olney

Producers:
Katie Cooper, Andrea Brody, Christian Bordal