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The Federal Reserve In Two Crises
(Private Enterprise Research Center, Texas A&M University, 2020-11-16)
The country has experienced two economic crises in the first two decades of the 21st century, but there are significant differences between the 2008 crisis and the 2020 crisis caused by the pandemic. In this policy study, ...
The Federal Reserve, the Great Recession and the Lost Inflation
(Private Enterprise Research Center, Texas A&M University, 2016-07-01)
Ever since the Federal Reserve began its series of Quantitative Easing, traditional monetary economists have been predicting levels of inflation that would rival the inflation of the late 1970’s and early 1980’s. The ...
Federal Reserve Monetary Policy in the 21st Century
(Private Enterprise Research Center, Texas A&M University, 2023-07-21)
In the 21st Century, the tools of monetary policy changed fundamentally with the onset of the Great Recession and the Covid-Pandemic, both of which led to significant asset expansions of the Federal Reserve to the tune of ...
Money and Banking When Reserves Pay Interest
(Private Enterprise Research Center, Texas A&M University, 2020-04-09)
The Federal Reserve’s decision in 2008 to begin paying interest on bank reserves, particularly excess reserves (the IOER), has changed the role of the banking system and the determination of the nation’s money supply. ...
The Pandemic Federal Reserve: The First Two Years
(Private Enterprise Research Center, Texas A&M University, 2022-06-07)
Due to the Covid-19 pandemic, developed world governments engaged in unprecedented spending. Federal Reserve securities holdings were an astounding 36.5% of the nation’s Gross Domestic Product after two pandemic years. ...
The Failed Federal Reserve Attempt to Get Back to the Past
(Private Enterprise Research Center, Texas A&M University, 2020-05-21)
The end result of the Federal Reserve’s response to the 2008 financial and the Great Recession was an unprecedented increase in assets. Between 2008 and 2014, Federal Reserve assets rose from just under $900 billion to ...
The Federal Reserve & Interest Rates: It's the Interest on Reserves, Not the Fed Funds Rate That Matters
(Private Enterprise Research Center, Texas A&M University, 2022-09-16)
Much of the press’s reporting of the Federal Reserve’s efforts to fight inflation is measured by how much the Federal Reserve will raise interest rates at its next FOMC meeting. But the press’s measure of interest ...
The Federal Reserve and Interest Rates
(Private Enterprise Research Center, Texas A&M University, 2014-11-01)
The Covid-19 Federal Reserve
(Private Enterprise Research Center, Texas A&M University, 2023-10-13)
At almost the onset of the effects of the pandemic, the Federal Reserve engaged in a massive asset expansion that was truly unprecedented. In just the first three months of the pandemic, March, April and May of 2020, the ...