Fed, global central banks move to boost financial system

[IDemo]

Source: msnbc.com

By Patrick Rizzo

The Federal Reserve said Wednesday that it joined some of the world's major central banks in a coordinated action to inject liquidity into the global financial system.

Joining in the move were: the Fed, The Bank of Canada, the Bank of England, the Bank of Japan and the European Central Bank, the Fed said.

"The purpose of these actions is to ease strains in financial markets and thereby mitigate the effects of such strains on the supply of credit to households and businesses and so help foster economic activity," the Fed said in a statement.

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