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New America Foundation Tom Gallagher, CFA ISI Group September 23, 2008 Confronting Economic Meltdown
ISI Group Source: Federal Reserve Board. Source: ISI. Reluctance by banks to lend is a major headwind for the economy.
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ISI Group Public Sector Recapitalizations Of Financial Sector, Developed Countries Source: Reinhart and Rogoff AEA. Financial crises usually require nontraditional policy responses.
ISI Group 3-month Treasury bills fell close to zero for 3 days last week…
ISI Group … which havent been seen since the 1930s.
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The Federal Reserve Started in 1913 is response to yet another financial crisis Is Quasi-public Serves three purposes Regulates the payment system Supervises.
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Macroeconomics that part of economic theory dealing with the economy as a whole and decision making by large units such as governments and unions Click.
Figure 12.1 American house prices; 12-month moving average, 1987 – 2012 Source: calculations based on data from US Census Bureau; median new house price.
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of economy or economics: relating to economics, or the economy or business activities of a country.
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