TheNewsRoom | Fed steps in again

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Fed steps in again

October 07, 2008

The Federal Reserve will begin buying commercial paper in a special measure aimed at restoring confidence in another bruised market. Demand for commercial paper, used as a mechanism for short-term corporate borrowing, recently dried up with traditional money market lenders spooked by the growing credit crunch. Speakers: Vin Mather, Wall Street worker; Rick Pfeiffer, Wall Street worker Conway Gittens reports from New York.