The Federal Reserve announced it is going to buy massive amounts of commercial paper in an effort to break through a credit crunch that has endangered the economy. ┬á In alliance with the Treasury Department, the Fed is planning to buy ÔÇ£commercial paper,ÔÇØ a way of borrowing money for short periods typically ranging from a day to less than a week, and a mechanism that many companies use to finance their day-to-day operations, such as purchasing supplies, finance payrolls, and other cash needs.