Tuesday, January 22, 2008
HPC in US a potential catalyst to HPC in UK
In a statement the Fed said: 'While strains in short-term funding markets have eased somewhat, broader financial market conditions have continued to deteriorate and credit has tightened further for some businesses and households. 'Moreover, incoming information indicates a deepening of the housing correction as well as some softening of the Labour market.'The announcement was followed swiftly by a statement from US Treasury Secretary Hank Paulson who echoed the Fed's words.