Board of Governors of the Federal Reserve System

For release on delivery 1:35 p.m. EST (10:35 a.m. local time) January 9, 2025 Reflections on 2024: Monetary Policy, Economic Performance, and

Crisis responseMonetary policy normalizationFed's balance sheetFederal...crisis that emerged in 2007. For reports and disclosures on current Federal

response to a financial crisis. This paper proposes a model of lending...crisis. During the crisis, relatively small banks were lending to large

Crisis in late 2008 (figure 2). After liftoff in December 2015, we were...response, unless the Committee believed that, if left unchecked, it would

Response, Accessible Data Figure 1. Spreads of corporate bond yields over...crisis period. Data source: Federal Reserve Bank of St. Louis. Return

response to a severe financial panic, the Panic of 1907. This panic led...responses differed between 1907 and the recent crisis. As I mentioned,

response to dollar appreciation, investors require higher compensation...response to dollar appreciation, borrowing costs for U.S. firms increase

crisis and during the COVID-19 pandemic. I will then discuss some considerations...response to QE.4 Overall, the evidence indicates that the Fed’s LSAPs

crisis and about double the peak in the COVID crisis. The rise in the ...crisis, whereas it fell much more modestly during the COVID crisis. Correspondingly

Crisis responseMonetary policy normalizationFed's balance sheetFederal...crisis, the Federal Reserve provided support to certain specific institutions