The Early Phases of the Financial Crisis: Reflections on the Lender of Last Resort

Timothy Geithner ()
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Timothy Geithner: YPFS, Yale School of Management, https://elischolar.library.yale.edu/journal-of-financial-crises/

Journal of Financial Crises, 2019, vol. 1, issue 1, 1-38

Abstract: This essay discusses the powers and limitations of the Federal Reserve's role as Lender of Last Resort and how it deployed those powers during the financial crisis of 2007-2009. It considers the Fed's authorities and the frameworks that it relied on in utilizing its powers to calm markets in turmoil and to assist specific financial institutions.

Keywords: Lender of Last Resort; Federal Reserve; Monetary Policy; Financial Crises; 2007; 2009; Treasury; Geithner; Bernanke (search for similar items in EconPapers)
JEL-codes: G01 G28 (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:ysm:ypfsfc:1111

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