- Peter Kinder resigns federal agency post, concludes position unnecessary and waste of tax dollars (6/16/18)2
- Stormy Daniels to visit East Cape Girardeau (6/13/18)20
- Longtime downtown Cape bartender Marcellus Jones remembered by friends (6/12/18)2
- A community rallies behind Honorable Young Men's Club (6/16/18)1
- Couple charged in beating death at Brick's (6/13/18)
- Southeast to spend $150,000 to refresh brand with Ohio firm (6/19/18)6
- New urban dance studio opens on Broadway (6/15/18)2
- Jackson natives compete in 260-mile canoe race (6/16/18)1
- Feeding deer in Bollinger, Cape and Perry counties prohibited soon to help curb spread of CWD (6/13/18)7
- New Zaxby's restaurant open in Cape (6/13/18)3
Fed makes $50 billion available for Europe to support banks
AP Economics WriterWASHINGTON (AP)-- The Federal Reserve, seeking to stabilize the global economy following the worst terrorist attack in U.S. history, announced Thursday that it was making $50 billion available to stabilize European banking systems.
The Fed said it was taking the action "to facilitate the functioning of financial markets and provide liquidity in dollars."
The unusual move followed by one day a joint statement from the world's seven richest countries pledging that their central banks would coordinate activities to make sure that emergency withdrawals did not destabilize any of their banking systems.