U.S. Fed adopts new measures to ease financial crisis- China - News Brief

The U.S. Federal Reserve announced Sunday a cut of 25 basic points of its 3.25-percent lending rate to financial institutions, as part of its new measures to shore up the flagging U.S. economy.

The measures, which aimed to "bolster market liquidity and promote orderly market functioning," also included creating a new lending facility for big investment banks to secure short-term loans.

Editor: Yan

By: Source: China View website

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