Federal Reserve launches bold $1.2 trillion effort to revive economy
With the country sinking deeper into recession, the Federal Reserve launched a bold $1.2 trillion effort Wednesday to lower rates on mortgages and other consumer debt, spur spending and revive the economy.
In the latest move by America's primary bank, the Federal Reserve has finally decided to pump $900 billion into the sluggish US economy, in a move to bring the nation's financial wagon back on track.