Yahoo! News :: Business

Fed, Treasury take steps to confront financial crisis (AFP)

<p><a href="http://us.rd.yahoo.com/dailynews/rss/business/*http://news.yahoo.com/s/afp/20081006/bs_afp/usfinancebankingbankrate"><img src="http://d.yimg.com/us.yimg.com/p/afp/20081006/capt.cps.nus06.061008173927.photo00.photo.default-439x512.jpg?x=111&y=130&q=85&sig=x2HGwUFNk6R52XxPFVlryA--" align="left" height="130" width="111" alt="The US Federal Reserve building in Washington. The Federal Reserve has said it would start to pay interest on bank deposits for the first time and expand bank refinancing operations to 900 billion dollars by year-end in a bid to increase liquidity.(AFP/File/Karen Bleier)" border="0" /></a>AFP - The Federal Reserve and the US Treasury announced measures Monday to confront a rapidly escalating financial crisis under new emergency powers as panicked investors fled stock markets.</p><br clear="all"/>