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US authorities inject another $800 billion into their financial system

It has today been announced that the Federal Reserve in America is injecting a further $800 billion into the US credit markets which are showing no signs of unfreezing after the credit crunch. This now brings the total injected over the last few months to $1500 billion which is a serious amount of money even for the US. There is some debate as to whether the US economy is still set to lurch further down as nothing seems to be fixing the credit crunch and the liquidity crisis

President Obama, when he takes his office, will have one of the most monumental challenges on his hands as the US economy struggles to pull clear of the downturn. He will be called into action as soon as he takes office and the many policies and strategies which he mentioned in the presidential election will be expected to come into play. In many ways he is in a no lose situation as he can blame the previous president if it all goes wrong and he can take the credit if his strategies work.

Whatever happens, President Obama is sure to get a rude awakening when he finally takes up his new role as the head of America.

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