30 years: Debt capital markets
In this video, Tim describes the response of the United States to the Great Recession of 2007-2009. He explains the response of the Federal Reserve and the impact of their monetary stimulus.
In this video, Tim describes the response of the United States to the Great Recession of 2007-2009. He explains the response of the Federal Reserve and the impact of their monetary stimulus.
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10 mins 2 secs
The Federal Reserve unleashed an unprecedented amount of stimulus and reforms, mainly equity injections into nine systemically important “too big to fail” banks, and toxic asset funding at the onset of the financial crisis which restored the US economy to a firm footing, and eventually to growth. This is evident as Nominal GDP in the US increased from $14.6tn in 2009 to $20.8tn in 2018.
Key learning objectives:
Outline Fed's initial response to the financial crisis
Understand how the Fed unwind QE
Understand how successful were the three programmes of QE
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This started in November 2008 and was extended in March 2009. This involved the purchase by the Fed of $1.75 trillion of:
This started in November 2010 and continued until mid-2012. This involved the Fed purchasing $600 billion of:
This started in September 2012 and completely ended in October 2014. This involved the Fed:
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