The Great Recession - Understanding How Economists Responded

Explore the economic turmoil of the 2008 Great Recession in this 29-minute lecture from Wondrium. Delve into the Federal Reserve's unprecedented actions to halt the American economy's downward spiral, including expanded policy initiatives and increased commitments. Examine the panic caused by these risky moves and revisit the period when short-term credit markets ceased to function. Learn about normal Federal Reserve policies and why they proved inadequate during the crisis. Investigate key economic indicators like the TED (Treasury bill Euro dollar) spread and understand the creation of facilities such as the Term Auction Facility and Term Asset-Backed Securities Loan Facility. Gain insights into the banking sector's lending freeze and evaluate the potential impact of Quantitative Easing 2 on the economy. Presented by Michael K. Salemi, this lecture offers a comprehensive analysis of economists' responses to one of the most significant economic downturns in recent history.