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The Fed Gets Aggressive

In recent weeks, the Federal Reserve has taken bold action to stabilize the U.S. financial system. Will the Fed's actions have real impact? And, can it do anything more to keep capital markets from unraveling? NBR Washington bureau chief Darren Gersh gets the answers to these questions and others.



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Related NBR Stories & Links

• 03-14-08: Bear Stearns Still Struggles Even after Getting a Big Bailout
• 03-11-08: The Federal Reserve's $200 B Injection
• 11-19-07: Commentary: The Struggle of Being the Fed Head
• 08-10-07: The Fed Gives the Banking System a $38B Shot in the Wallet
• 02-27-08: Fed. Chairman Bernanke Says More Cuts are Coming

External Links/Articles*

• American Enterprise Institute (AEI)
  AEI is a private, nonpartisan, not-for-profit public policy research institute. This links to a March 4, 2008 speech given by Vincent Reinhart of AEI, who is interviewed in Darren Gersh's report. The title of the speech is "The Governance, Communication, and Conduct of the Federal Reserve's Monetary Policy."
• Federal Reserve - Book
  The Federal Reserve is the central bank of the United States. This links to an electronic book published by the Fed titled, "The Federal Reserve System Purposes and Functions." The book is a primer in how the Federal Reserve System operates.
• Federal Reserve - Press Release
  The Federal Reserve is the central bank of the United States. This links to a press release issued by the Fed on March 16, 2008. The release discusses two initiatives the central bank is taking "to bolster market liquidity and promote orderly market functioning." The two initiatives are a new lending facility for the Federal Reserve Bank of New York and a move to lower the primary credit rate by 1/4 of a percent.
• JPMorgan Chase
  This links to a March 16, 2008 press release issued by JPMorgan Chase. The release is titled, "JP Morgan Chase to Acquire Bear Stearns."
• White House
  This links to a March 17, 2008 news release from the White House titled, "President Bush Discusses Economy." The President's remarks include mention of the Federal Reserve's latest actions..

*Clicking these external links will take you off the NBR web site on PBS.org. NBR has no affiliation with these sites.