Fed to commit $7.4 trillion in loans

Carleton Bryant The Washington Times - November 24, 2008, 09:43AM

The federal government is prepared to lend $7.4 trillion to keep credit markets open, Bloomberg is reporting.

The sum $7.4 trillion is equal to about half of U.S. gross domestic product, the country’s total production output in a year.

SEE RELATED:

Gee, talk about going for broke.

About the Author

Carleton Bryant

Carleton Bryant is a senior editor at The Washington Times, where he oversees the National and Metropolitan desks. He also serves as the newsroom’s internship coordinator. He has served as an assistant managing editor; a National, Metropolitan and Features desk editor; an assistant National desk editor; and a reporter on the National and Metro desks.