Fed takes fresh steps to battle credit crisis
Action intended to ‘expand significantly’ the availability of cash

updated 6:17 p.m. ET, Mon., Sept. 29, 2008
WASHINGTON - The Federal Reserve and foreign central banks moved Monday to pump billions of dollars to cash-strapped banks at home and abroad in a dramatic bid to break through a credit clog and spur lending.

The Fed said the action is intended to “expand significantlyâ€