The Most Important Lesson the Fed Taught the World This Week

So the Federal Reserve did not taper after all. Having signaled in May and June that the central bank was likely to pare back its monthly purchases of $85 billion in mortgage and Treasury bonds, the bank and its chairman Ben Bernanke essentially said “Never mind,” and decided that now was not the time after all.

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THE GLOBAL FINANCIAL CRISIS

You've heard the story. On the heels of tumbling shares and dire warnings from the U.S. president, as well as business and government officials across the globe, the British prime minister says, "The world economy is facing its greatest risk in decades." To halt the slide, he calls for a global response to prevent the crisis from spiraling out of control.

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