In recent years, the news has been filled with stories about the impending collapses of the banking system. The Federal Reserve (the Fed) influences U.S. interest rates. Since the U.S. dollar is the global reserve currency, this means that the Fed also influences the level of interest rates around the world. As a result, Fed […]
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The Fed is Europe’s new dealer
Europe may not go to rehab before it is too late THE US Federal Reserve took steps yesterday to make it easier for European banks to borrow and lend dollars. The Fed is now providing such cheap money to Europe that the European Central Bank can borrow from the Fed at lower interest rates than American banks. The […]