Sunday, June 28, 2009
Financial crisis timeline
Economix draws attention to two excellent interactive timelines on the financial crisis by the Federal Bank of New York. The first one compares events in the US - Fed policy actions, market events, and other policy actions over the June 2007-June 2009 period. The second one maps the international responses to the crisis in terms of various financial market interventions - bank liability guarantee, liquidity and rescue interventions, and other market interventions.
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Recession went out but still growth is too low.The main issue at the time of recession is financial crisis timeline. It has interfered with the Fed's ability to operate a conventional monetary policy. I've read in one blog http://www.mikeastrachan.com/ that to accelerate worldwide growth, Europe, the U.S. and developing nations, along with Canada and Australia had to come up.
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