Insight & Thought Leadership on the Global Economy

When Mark Zandi talks, people listen. This fine book (Paying the Price) evaluates the policy responses to the financial crisis and the Great Recession in his usual authoritative and objective manner—a rare combination. You should read it. — Alan S. Blinder, Economics Professor, Princeton University, and former Vice Chairman of the Federal Reserve

Joint Economic Committee

Mark Zandi’s testimony before the Joint Economic Committee on March 26th, 2014:

“Unwinding Quantitative Easing: How the Fed Should Promote Stable Prices, Economic Growth and Job Creation”

The Federal Reserve did an admirable job navigating through the financial crisis that began in 2007, the resulting Great Recession, and the subsequent economic recovery. Without the Fed’s aggressive actions, the financial system would have collapsed and the economy would have suffered a depression.

The Federal Reserve took a range of extraordinary steps to quell the financial panic. It established new credit facilities to provide liquidity to financial institutions and markets. To stabilize the banking system, the Fed required the nation’s largest bank holding companies to conduct stress tests and raise enough capital to withstand the worst credit losses on record.

View the full testimony here.



This entry was posted in Insight. Bookmark the permalink.

Comments are closed.