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

February 6, 2009 | Federal Reserve Press Release

The Federal Reserve Board releases additional terms and conditions of the Term Asset-Backed Securities Loan Facility (TALF). Under the TALF, the Federal Reserve Bank of New York will lend up to $200 billion to eligible owners of certain AAA-rated asset-backed securities backed by newly and recently originated auto loans, credit card loans, student loans and SBA-guaranteed small business loans.

The U.S. Treasury Department purchases a total of $238.5 million in preferred stock from 28 U.S. banks under the Capital Purchase Program

February 6, 2009 | Special Inspector General TARP

The Office of the Special Inspector General for the Troubled Asset Relief Program issues its quarterly report to Congress on the operation of the Troubled Asset Relief Program.

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