SOMETIMES THE HORSE WILL DRINK AND SOMETIMES IT WON’T: MONETIZING THE RECOVERIES FROM THE GREAT DEPRESSION AND THE GREAT RECESSION
Despite the extraordinary and unprecedented actions taken by the Federal Reserve from 2008 to 2012, the economy was unable to mount a strong economic recovery because banks were not lending the $1.6 trillion in excess reserves that the Fed had created. The economy was caught in a predicament reminis...
| Main Author: | |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Economic & Business History Society
2013-06-01
|
| Series: | Essays in Economic and Business History |
| Online Access: | http://ebhsoc.org/journal/index.php/ebhs/article/view/234 |