Tuesday, January 22, 2008

HPC in US a potential catalyst to HPC in UK

Fed's emergency cut forced by housing market correction

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.

Posted by jack c @ 07:53 PM (479 views)
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