Fed extends helping hand

(01:16) Report

Jul. 30 - The Federal Reserve extended a temporing funding facility through early 2009 in a bid to energize a stubbornly lethargic credit market.

  • President Bush signs housing rescue package into law amid continued signs of strain in the housing market.
  • Private labor survey showed unexpected job creation in July.
  • U.S. gasoline demand down, but supplies surprisingly fell last week.

    Conway Gittens reports from New York.

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