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...

[ View all FAQs ]

Recent News

The Federal Reserve Board releases the minutes of its meetings from July 13, 2008 through December 16, 2008 concerning Federal Reserve liquidity facilities and other issues related to the financial turmoil.

The U.S. Treasury Department purchases a total of $284.7 million in preferred stock from 22 U.S. banks under the Capital Purchase Program.

The U.S. Treasury Department announces guidelines to enable servicers to begin modifications of eligible mortgages under the Homeowner Affordability and Stability Plan.

[ View Full Timeline ]

James Bullard's Web Site Federal Reserve Bank of St. Louis