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Fed to Extend Aid to Foreign Banks

By EmploymentCrossing  |  Dated: 12-28-2012

The Federal Reserve announced that it will extend a program that lowers the cost of borrowing for foreign banks that deal in U.S. dollars. Four other central banks also announced the same plan. This is significant for global trade because the global economy is based on US dollars for transactions.

Read the full article here:
Fed extends aid to foreign banks

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