The Federal Reserve and the Financial Crisis

federal funds rate, 100–102 Federal Housing Finance Agency, 125 Federal Open
Market Committee (FOMC), 35, 100, 108 Federal Reserve: actions during the
2008–2009 financial crisis, 50–52, 75–77,98–99; actions during the Great ...

The Federal Reserve and the Financial Crisis

Author: Ben Bernanke

Publisher: Princeton University Press

ISBN: 0691165572

Page: 144

View: 400

Collects the best of a series of lectures that U.S. Reserve Chairman Ben Bernanke gave about the financial crisis at George Washington University in 2012, offering insight into the guiding principles behind the Fed's activities and the lessons to be learned from its handling of recent economic challenges.

Federal Reserve Policies and Financial Market Conditions During the Crisis

Charts and tables. This is a print on demand edition of an important, hard-to-find publication.

Federal Reserve Policies and Financial Market Conditions During the Crisis

Author: Scott A. Brave

Publisher: DIANE Publishing

ISBN: 1437987834

Page: 61

View: 500

During the recent financial crisis, the Fed implemented a series of extraordinary and unconventional policies to alleviate the impact of the crisis on financial markets and the economy. This paper examines the effects of these policies on broad financial market conditions. The Fed was more likely to initiate or expand new programs when financial market conditions were tighter than usual and economic conditions deteriorating. The Fed¿s policies improved broad financial market conditions significantly at announcement and that the improvements were associated primarily with program initiations and expansions. Charts and tables. This is a print on demand edition of an important, hard-to-find publication.

The Financial Crisis and Federal Reserve Policy

The Financial Crisis and Federal Reserve Policy is fully revised and updated with the most accurate and thorough coverage available of the causes and consequences of the 2008 Financial Crisis and the role the Federal Reserve played in the ...

The Financial Crisis and Federal Reserve Policy

Author: L. Thomas

Publisher: Springer

ISBN: 1137401222

Page: 269

View: 744

The Financial Crisis and Federal Reserve Policy is fully revised and updated with the most accurate and thorough coverage available of the causes and consequences of the 2008 Financial Crisis and the role the Federal Reserve played in the recovery efforts.

Innovative Federal Reserve Policies During the Great Financial Crisis

This book, Innovative Federal Policies During the Great Financial Crisis, contains discussions of unconventional monetary policies, policy changes to address systemic and payments systems risks, new macroprudential policies, the 'stretching ...

Innovative Federal Reserve Policies During the Great Financial Crisis

Author: Kaufman George G

Publisher: World Scientific

ISBN: 9813236604

Page: 316

View: 622

This book, Innovative Federal Policies During the Great Financial Crisis, contains discussions of unconventional monetary policies, policy changes to address systemic and payments systems risks, new macroprudential policies, the 'stretching' of the financial safety net, changes in the Fed's liquidity funding facility (the discount window), use of the Fed's balance sheet as a tool of monetary policy, and alternative means to deal with real-estate asset bubbles and potential financial instability. The 10 chapters in this book offer a unique analysis of several innovative approaches by the Federal Reserve that contributed to the stabilization of the US economy following the Great Recession. What unique policies were implemented? Toward what goal? Were they effective? Were there unintended consequences? Additionally, but less thoroughly, events in the Euro market are also discussed, and policies (and their impact) of the ECB are critiqued. Based on papers presented at the 91st Annual Conference of the Western Economic Association International Meetings in Portland, Oregon, 2016, Innovative Federal Policies During the Great Financial Crisis adds significantly to the debate over why innovative or unconventional policies were needed, how they were implemented and how effective they were.

Stewards of the Market

"Mitchel Abolafia goes behind the scenes with the Federal Reserve's powerful Open Market Committee as it responded to the 2008-2009 financial crisis.

Stewards of the Market

Author: Mitchel Y. Abolafia

Publisher:

ISBN: 0674980786

Page: 224

View: 761

"Mitchel Abolafia goes behind the scenes with the Federal Reserve's powerful Open Market Committee as it responded to the 2008-2009 financial crisis. Relying on verbatim transcripts of closed meetings, Abolafia shows how assumptions about self-correcting markets stymied the Fed and how its leaders came to embrace new ideas"--

Changing the Federal Reserve s Mandate

The recent financial crisis and deep economic recession have led to criticisms of the Fed.

Changing the Federal Reserve s Mandate

Author: Marc Labonte

Publisher: DIANE Publishing

ISBN: 1437983367

Page: 20

View: 243

The recent financial crisis and deep economic recession have led to criticisms of the Fed. Reserve's (Fed) handling of both. Critics have blamed the Fed for pursuing policies that allowed the housing bubble to inflate, for lax regulation of financial firms and mortgage markets that led to excessive speculation, for "bailing out" financial firms during the crisis, for failing to prevent the recession's unusual length and depth, and for engaging in "quantitative easing" that may result in high inflation. Contents of this report: Intro.; Monetary Policy; The Relationship Between Inflation Targeting and the Mandate; A Single Mandate of Price Stability; Would a Single Mandate Have Resulted in Better Outcomes?; Setting an Inflation Target. A print on demand report.

Understanding the Federal Reserve and Monetary Policy

Presents a history of the Federal Reserve, discussing how the central bank came about, what its purpose is, and its role in the Great Recession of 2007-2010.

Understanding the Federal Reserve and Monetary Policy

Author: Corona Brezina

Publisher: The Rosen Publishing Group, Inc

ISBN: 1448855675

Page: 80

View: 718

Presents a history of the Federal Reserve, discussing how the central bank came about, what its purpose is, and its role in the Great Recession of 2007-2010.

The Great Recession

Here, experts assess the role of central banks in responding to the recent financial crisis and in preventing future crises.

The Great Recession

Author: Jacob Braude

Publisher: MIT Press

ISBN: 0262018349

Page: 380

View: 281

The recent financial crisis shook not only the global economy but also conventional wisdom about economic policy. After the collapse of Lehman Brothers in September 2008, policy makers reversed course and acted on an unprecedented scale. The policy response was remarkable both for its magnitude and for the variety of measures undertaken. This book examines both the major role central banks played in the crisis and the role they might play in preventing or preparing for future crises. The contributors, central bankers from around the world, focus on monetary policy, the new area of macroprudential policy, and issues of exchange rates, capital flows, and banking and financial markets. They look at the experiences of both developed and emerging economies, considering why some, including Israel and Australia, suffered only mild effects while others--Ireland for example--plunged into severe financial crisis.

Financial Crises

This book is a path-breaking survey and critique of the major theories of financial crises. It builds a model of crisis from an analysis of postwar financial crises in the United States through the mid-1980's.

Financial Crises

Author: Martin H. Wolfson

Publisher: M.E. Sharpe

ISBN: 9780873323772

Page: 228

View: 846

This book is a path-breaking survey and critique of the major theories of financial crises. It builds a model of crisis from an analysis of postwar financial crises in the United States through the mid-1980's. It has gained interest as a supplemental text.

The Tyranny of the Federal Reserve

Drawing heavily from the writings and ideas of Benjamin Franklin, Alfred Owen Crozier and Carroll Quigley, "The Tyranny of the Federal Reserve" looks back on how we got here and forward to a brighter future through monetary reform.

The Tyranny of the Federal Reserve

Author: Brian O'Brien

Publisher: CreateSpace

ISBN: 9781514845080

Page: 444

View: 330

The Federal Reserve is a leviathan that overshadows the world economy, dominating it, controlling the flow of money, affecting all our lives. The Federal Reserve Act was passed in 1913 in reaction to the bank runs, bankruptcies and financial chaos caused by the Panic of 1907. The stated purpose of the Act was to create a stable monetary system to bring financial stability to the United States and prevent such economic crises as the Panic of 1907 from occurring again. Sixteen years after the passage of the Act, under the Federal Reserve's watch, the nation experienced the worst financial collapse in our history and descended into our deepest and darkest depression--the Great Depression--a crisis far worse than the Panic of 1907 by orders of magnitude. Since the creation of the Fed, we have lurched from boom to bust time and again as financial crisis has followed financial crisis. By any objective measure, the Fed has failed to achieve the stated objectives of its founding. Today, our economic imbalances are extreme and compounding and approaching a day of reckoning. Another financial collapse looms and casts a dark shadow over our future. Under the stewardship of the Federal Reserve, further hardship for our struggling middle class is certain and inevitable. It doesn't have to be this way. Drawing heavily from the writings and ideas of Benjamin Franklin, Alfred Owen Crozier and Carroll Quigley, "The Tyranny of the Federal Reserve" looks back on how we got here and forward to a brighter future through monetary reform.

Fighting Financial Crises

The authors then consider the Fed’s and the SEC’s reactions to the recent crisis, building an informative new perspective on how the modern economy works.

Fighting Financial Crises

Author: Gary B. Gorton

Publisher: University of Chicago Press

ISBN: 022678620X

Page: 256

View: 541

If you’ve got money in the bank, chances are you’ve never seriously worried about not being able to withdraw it. But there was a time in the United States, an era that ended just over a hundred years ago, when bank customers had to pay close attention to the solvency of the banking system, knowing they might have to rush to retrieve their savings before the bank collapsed. During the National Banking Era (1863–1913), before the establishment of the Federal Reserve, widespread banking panics were indeed rather common. Yet these pre-Fed banking panics, as Gary B. Gorton and Ellis W. Tallman show, bear striking similarities to our recent financial crisis. Fighting Financial Crises thus turns to the past to better understand our uncertain present, investigating how panics during the National Banking Era played out and how they were eventually quelled and prevented. The authors then consider the Fed’s and the SEC’s reactions to the recent crisis, building an informative new perspective on how the modern economy works.

Fed Up

A Federal Reserve insider pulls back the curtain on the secretive institution that controls America’s economy After correctly predicting the housing crash of 2008 and quitting her high-ranking Wall Street job, Danielle DiMartino Booth was ...

Fed Up

Author: Danielle DiMartino Booth

Publisher: Penguin

ISBN: 0735211663

Page: 288

View: 466

A Federal Reserve insider pulls back the curtain on the secretive institution that controls America’s economy After correctly predicting the housing crash of 2008 and quitting her high-ranking Wall Street job, Danielle DiMartino Booth was surprised to find herself recruited as an analyst at the Federal Reserve Bank of Dallas, one of the regional centers of our complicated and widely misunderstood Federal Reserve System. She was shocked to discover just how much tunnel vision, arrogance, liberal dogma, and abuse of power drove the core policies of the Fed. DiMartino Booth found a cabal of unelected academics who made decisions without the slightest understanding of the real world, just a slavish devo­tion to their theoretical models. Over the next nine years, she and her boss, Richard Fisher, tried to speak up about the dangers of Fed policies such as quanti­tative easing and deeply depressed interest rates. But as she puts it, “In a world rendered unsafe by banks that were too big to fail, we came to understand that the Fed was simply too big to fight.” Now DiMartino Booth explains what really happened to our economy after the fateful date of December 8, 2008, when the Federal Open Market Committee approved a grand and unprecedented ex­periment: lowering interest rates to zero and flooding America with easy money. As she feared, millions of individuals, small businesses, and major corporations made rational choices that didn’t line up with the Fed’s “wealth effect” models. The result: eight years and counting of a sluggish “recovery” that barely feels like a recovery at all. While easy money has kept Wall Street and the wealthy afloat and thriving, Main Street isn’t doing so well. Nearly half of men eighteen to thirty-four live with their parents, the highest level since the end of the Great Depression. Incomes are barely increasing for anyone not in the top ten percent of earners. And for those approaching or already in retirement, extremely low interest rates have caused their savings to stagnate. Millions have been left vulnerable and afraid. Perhaps worst of all, when the next financial crisis arrives, the Fed will have no tools left for managing the panic that ensues. And then what? DiMartino Booth pulls no punches in this exposé of the officials who run the Fed and the toxic culture they created. She blends her firsthand experiences with what she’s learned from dozens of high-powered market players, reams of financial data, and Fed docu­ments such as transcripts of FOMC meetings. Whether you’ve been suspicious of the Fed for decades or barely know anything about it, as DiMartino Booth writes, “Every American must understand this extraordinarily powerful institution and how it affects his or her everyday life, and fight back.”

A Flow of Funds Perspective on the Financial Crisis Volume I

Provides a comprehensive overview of a broad range of uses of the flow of funds within the central bank community as well as in the academic field, prepared by international experts in the field.

A Flow of Funds Perspective on the Financial Crisis Volume I

Author: B. Winkler

Publisher: Springer

ISBN: 1137352981

Page: 326

View: 209

Provides a comprehensive overview of a broad range of uses of the flow of funds within the central bank community as well as in the academic field, prepared by international experts in the field. Based on the crisis experience, it offers an overview of lessons for macrofinancial analysis and financial stability.

First Responders

Offering previously untold insight into the key choices (including rejected options) and a frank evaluation of successes and failures, this volume is both an important historical document and an indispensable guide for confronting future ...

First Responders

Author: Ben S. Bernanke

Publisher: Yale University Press

ISBN: 0300252749

Page: 608

View: 240

An insider’s view of the U.S. government’s response to the 2007–2009 global financial crisis, as recounted by the people who made the key decisions In 2008, the world’s financial system stood on the brink of disaster. The United States faced an unprecedented crisis when the investment bank Lehman Brothers collapsed, setting off a global panic. Faced with the prospect of a new Great Depression, the Treasury Department, the Federal Reserve, the Federal Deposit Insurance Corporation, and other agencies took extraordinary measures to contain the damage and steady the financial system and the economy. Edited by three of the policymakers who led the government’s response to the crisis, with chapters written by the teams tasked with finding policy solutions, this book provides a comprehensive accounting of the internal debates and controversies surrounding the measures that were taken to stabilize the financial system and the economy. Offering previously untold insight into the key choices (including rejected options) and a frank evaluation of successes and failures, this volume is both an important historical document and an indispensable guide for confronting future financial calamities.

The International Financial Crisis

The papers in this volume analyze whether financial principles seem to have shifted in recent years, and what that may mean for international financial markets and regulation. What “broke” in the current crisis?

The International Financial Crisis

Author:

Publisher:

ISBN: 9814464201

Page:

View: 420

The Global Financial Crisis

This timely book offers a cutting-edge view of the global financial crisis by exploring the various statutory, regulatory, and policy responses to it.

The Global Financial Crisis

Author: Hal S. Scott

Publisher:

ISBN:

Page: 184

View: 649

This timely book offers a cutting-edge view of the global financial crisis by exploring the various statutory, regulatory, and policy responses to it. It focuses on the most recent developments and underlying policy issues. It is a valuable tool for anyone looking to understand the legal and regulatory factors implicated in the ongoing global credit crisis.