Fed to buy massive amounts of short-term debt
WASHINGTON - The Federal Reserve moved swiftly to break through a credit clog that is imperiling the economy, saying Tuesday it would buy massive amounts of short-term debt and hinting that it may cut interest rates.
Wall Street — the main target of his attention — was unimpressed, falling deeper into depression despite the news. The Dow Jones industrials shed more than 500 points.
Fed Chairman Ben Bernanke...
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