Unconventional Monetary Policy Initiatives: 2008–2013

Lloyd B. Thomas

Chapter Chapter 12 in The Financial Crisis and Federal Reserve Policy, 2013, pp 191-205 from Palgrave Macmillan

Abstract: Abstract As increasing problems in the U.S. financial system began adversely impacting economic activity in late 2007 and 2008, the Federal Reserve reacted in traditional fashion by gradually reducing its target level for the federal funds rate. During 2008, the Fed cut the rate seven times, by a total of 4 percentage points. By the end of 2008, the Fed had dropped the fed funds rate as low as it could go—to a range of 0–0.25 percent.

Keywords: Federal Reserve; Bond Yield; Federal Fund Rate; Bank Reserve; Federal Open Market Committee (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-40122-9_12

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DOI: 10.1057/9781137401229_12

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