Glimmers of hope
It appears there are glimmers of hope the economy is possibly starting to respond to all the efforts to stabilize it, but we’re still a long way from an upturn. So what is happening? It’s almost all the Fed and TARP. The Fed has poured what amounts to a couple trillion dollars into direct efforts or back up support to the credit markets. To start with, there are zero interest rates from Fed funds to banks.
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