The Federal Reserve announced Friday that it will expand a series of efforts to deal with the global credit crisis, in coordination with European central banks. The Fed said it was boosting the amount of emergency reserves it supplies to United States banks to US$150 billion ($205 billion) in May, from the US$100 billion it supplied in April. The Fed took this action and several other moves to boost...
Credit Crisis
Dr Tony Tan, the deputy chairman of the Government of Singapore Investment Corporation (GIC), has clarified that recent comments made on the world facing its worst recession in 30 years is just one of three scenarios GIC is contemplating. It is not the GIC's forecast for the global economy. The other two are an optimistic scenario where there is a recession in the US or globally, with an end to the...