The US Federal Reserve will inject $215 billion into the cash-starved USA banking system amid increasing credit squeeze. All because of the worst housing slump in decades.
The announcement was made public just minutes before the US Labor Department reported the economy lost 63,000 jobs in February.
It is the second consecutive month of job losses and has triggered global nervousness that the world's largest economy is heading for a recession.
The drop in job numbers, is the biggest since March 2003.
Amongst industry sectors, the manufacturing, construction and retail sectors were the most affected.
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The announcement was made public just minutes before the US Labor Department reported the economy lost 63,000 jobs in February.
It is the second consecutive month of job losses and has triggered global nervousness that the world's largest economy is heading for a recession.
The drop in job numbers, is the biggest since March 2003.
Amongst industry sectors, the manufacturing, construction and retail sectors were the most affected.
Discuss
Tell a friend
Bury
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