In economic news, the Financial Times reports U.S. banks have quietly borrowed nearly $50 billion from the Federal Reserve in recent months as part of a new effort by the Fed to loan money to banks at discounted rates. The move has sparked unease among some analysts about the banks’ growing reliance on indirect forms of government support.
U.S. Banks Borrow $50 Billion from Federal Reserve
HeadlineFeb 20, 2008