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Open and operating: providing liquidity to avoid a crisis

Author

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  • Bruce A. Champ

Abstract

The terrorist attacks of 9/11 triggered a staggering increase in demand for U.S. dollars all over the world, a demand that threatened to disrupt the American payments system but was met swiftly and successfully by the Federal Reserve. Earlier in the nation?s history, the system didn?t respond so well to severe shocks. This Commentary describes financial crises that occurred during one period in which the country had no central bank.

Suggested Citation

  • Bruce A. Champ, 2003. "Open and operating: providing liquidity to avoid a crisis," Economic Commentary, Federal Reserve Bank of Cleveland, issue Feb.
    • Handle: RePEc:fip:fedcec:y:2003:i:feb15
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    File URL: https://www.clevelandfed.org/-/media/project/clevelandfedtenant/clevelandfedsite/publications/economic-commentary/2003/ec-20030215-open-and-operating-providing-liquidity-to-avoid-a-crisis-pdf.pdf
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    Citations

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    Cited by:

    1. Wissem Bouaziz & Abdelfettah Bouri, 2012. "Ownership structure and financial institutes risk taking: evidence from Tunisian quoted bank (financial institute)," International Journal of Managerial and Financial Accounting, Inderscience Enterprises Ltd, vol. 4(1), pages 47-60.
    2. repec:diw:diwdiw:diwepb21 is not listed on IDEAS
    3. Christos Kollias & Stephanos Papadamou, 2012. "Terrorism and Market Jitters," EUSECON Policy Briefing 21, DIW Berlin, German Institute for Economic Research.

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