02 August 2008

US swapping more dollars for euros? Federal Reserve Board Press Release. Please! Someone help me understand this...

Looks like the Fed is trying to put one more finger in the dike, and they don't have too many left. Another sign of the times...can't say I totally understand this, but whatever I find I'll tell you. And please, if you find something out, tell me:

From the following Federal Reserve Board (FRB) Press Release dated 30 July 2008:
"An increase in the Federal Reserve's swap line with the European Central Bank to $55 billion from $50 billion."
30 July 2008 FRB Press Release

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