Brand: Nova Science Pub Inc Nova Science Financial Alarm and Federal Reserve Response Book

Gain deep insights into modern economic policy with Financial Alarm and Federal Reserve Response. This volume examines the critical actions taken by the Federal Reserve to manage the financial turmoil that began in August 2007. It provides a detailed look at how the Fed utilized open market operations to increase reserves and adjusted the federal funds and discount rates to stabilize the economy. Readers will learn about the expansion of credit facilities and the shift toward direct lending to non-bank financial firms. This specific move represents a significant change in monetary policy, marking the first time since the Great Depression that non-bank entities and non-members of the Federal Reserve System were permitted to borrow directly. This book is an essential resource for anyone studying economic issues, policy development, and the evolution of the American financial landscape in the 21st century.