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 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.

March 11, 2009 | Freddie Mac Press Release

Freddie Mac announces that it had a net loss of $23.9 billion in the fourth quarter of 2008, and a net loss of $50.1 billion for 2008 as a whole. Further, Freddie Mac announces that its conservator has submitted a request to the U.S. Treasury Department for an additional $30.8 billion in funding for the company under the Senior Preferred Stock Purchase Agreement with the Treasury.

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.

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