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 U.S. Treasury Department purchases a total of $1.91 billion in preferred stock from seven U.S. banks under the Capital Purchase Program.

December 30, 2008 | Federal Reserve Press Release

The Federal Reserve Board announces that it expects to begin to purchase mortgage-backed securities backed by Fannie Mae, Freddie Mac and Ginnie Mae under a previously announced program in early January 2009 (see November 25, 2008).

December 30, 2008 | SEC Press Release

The U.S. Securities and Exchange Commission (SEC) releases a report that recommends against the suspension of fair value accounting standards. The report was mandated by the Emergency Economic Stabilization Act of 2008 (EESA).

[ View Full Timeline ]

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