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A view of the economic crisis and the Federal Reserve's response

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  • Janet L. Yellen

Abstract

The Federal Reserve has responded to a severe recession by developing programs to bolster the financial system and restore economic growth. The Fed has the tools to unwind these programs when appropriate, maintaining price stability. The following is adapted from a speech delivered by the president and CEO of the Federal Reserve Bank of San Francisco to the Commonwealth Club in San Francisco on June 30, 2009.

Suggested Citation

  • Janet L. Yellen, 2009. "A view of the economic crisis and the Federal Reserve's response," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue jul6.
    • Handle: RePEc:fip:fedfel:y:2009:i:jul6:n:2009-22
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