The Federal Reserve said Friday it is taking bigger steps to ease the United States' credit crisis, including increasing the amount of money it will auction to banks this month to $100 billion.
The Federal Reserve said it will raise its planned March 10 and March 24 auctions to $50 billion each, up from the $30 billion limits it had previously announced. The auctions serve as short-term loans to get banks the cash they need to keep lending to their customers.
Fed officials said in a statement they planned to continue the auctions for at least six months, and would move to even larger auction amounts if needed...
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