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The Fed’s Role in the 2008 Crisis

John Allison, Yaron Brook, George Selgin

Presented at: OCON 2016

Date: Jul 01, 2016

Despite what Federal Reserve authorities and many other economists claim, the Federal Reserve’s extraordinary policy actions of 2008, far from saving us from a still-worse economic downturn, actually made the downturn that did occur far deeper and more persistent than it might otherwise have been. Instead of being aimed at preventing a general contraction in the supply of money and credit, the Fed directed its efforts toward rescuing particular financial firms.

bankingpoliticseconomics

Parts: 1

Handout: none

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