A Financial Timeline

Frequently Asked Questions about the Financial Crisis

How has the financial crisis affected the Fed’s monetary policy?

The financial crisis has interfered with the Fed's ability to operate a conventional monetary policy. Lender-of-last-resort measures have been a primary focus. The FOMC has reduced its target for t...

With the federal funds rate near zero, is monetary policy still relevant?

Monetary policy remains potent. Even with the fed funds rate at zero, the Fed can continue to influence financial markets and the economy through open market operations and various lending programs...

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Recent News

The U.S. Treasury Department purchases a total of $6.25 billion in preferred stock in 28 U.S. banks under the Capital Purchase Program.

December 11, 2008 | NBER Press Release

The Business Cycle Dating Committee of the National Bureau of Economic Research announces that a peak in U.S. economic activity occurred in December 2007 and that the economy has since been in a recession.

December 10, 2008 | FDIC Press Release

The FDIC reiterates the guarantee of federal deposit insurance in the event of a bank failure.

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