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Unconventional Monetary Policy Initiatives: 2008–2013

In: The Financial Crisis and Federal Reserve Policy

Author

Listed:
  • Lloyd B. Thomas

Abstract

As increasing problems in the U.S. financial system began adversely impacting economic activity in late 2007 and 2008, the Federal Reserve reacted in traditional fashion by gradually reducing its target level for the federal funds rate. During 2008, the Fed cut the rate seven times, by a total of 4 percentage points. By the end of 2008, the Fed had dropped the fed funds rate as low as it could go—to a range of 0–0.25 percent.

Suggested Citation

  • Lloyd B. Thomas, 2013. "Unconventional Monetary Policy Initiatives: 2008–2013," Palgrave Macmillan Books, in: The Financial Crisis and Federal Reserve Policy, edition 0, chapter 0, pages 191-205, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-40122-9_12
    DOI: 10.1057/9781137401229_12
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