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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...
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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

Federal Reserve Chairman Bernanke and Federal Reserve Bank of New York President Dudley respond to questions from the Congressional Oversight Panel about the Term Asset-Backed Loan Facility (TALF), explaining in detail the rationale and operation of the TALF.

The General Accounting Office (GAO) releases a report on the status of efforts to address transparency and accountability issues for the Troubled Asset Relief Program (TARP). The report provides information about the nature and purpose of TARP funding through March 27, 2009, the performance of the Treasury Department's Office of Financial Stability, and TARP performance indicators.

The U.S. Treasury Department announces an extension of its temporary Money Market Funds Guarantee Program through September 18, 2009. This program will continue to provide coverage to shareholders up to the amount held in participating money market funds as of the close of business on September 19, 2008. The Program currently covers over $3 trillion of combined fund assets and was scheduled to end on April 30, 2009.

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