IDEAS home Printed from
   My bibliography  Save this article

Current Economic and Financial Conditions


  • Ben S Bernanke


Although the Federal Reserve strongly favors private-sector solutions to private-sector problems, the risk of financial instability in the United States and in much of the rest of the world has implied the need to take extraordinary actions on the part of governments and central banks. The complexity of the problems has in some instances required situation-specific responses. Enactment of the Emergency Economic Stabilization Act, especially the Troubled Asset Relief Program, is an important step to deal with a systemic financial problem of historic dimensions. Fortunately, economic policymakers have learned the lessons of history and have intervened while the majority of financial institutions still have adequate capital and liquidity to provide credit to the economy. Timely government intervention, together with the natural recuperative power of financial markets, will lay the groundwork for financial and economic recovery.Business Economics (2008) 43, 8–12; doi:10.2145/20080401

Suggested Citation

  • Ben S Bernanke, 2008. "Current Economic and Financial Conditions," Business Economics, Palgrave Macmillan;National Association for Business Economics, vol. 43(4), pages 8-12, October.
  • Handle: RePEc:pal:buseco:v:43:y:2008:i:4:p:8-12

    Download full text from publisher

    File URL:
    File Function: Link to full text PDF
    Download Restriction: Access to full text is restricted to subscribers.

    File URL:
    File Function: Link to full text HTML
    Download Restriction: Access to full text is restricted to subscribers.

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    1. Jushan Bai & Pierre Perron, 1998. "Estimating and Testing Linear Models with Multiple Structural Changes," Econometrica, Econometric Society, vol. 66(1), pages 47-78, January.
    2. Ana Aizcorbe & Samuel Kortum, 2005. "Moore's Law and the Semiconductor Industry: A Vintage Model," Scandinavian Journal of Economics, Wiley Blackwell, vol. 107(4), pages 603-630, December.
    Full references (including those not matched with items on IDEAS)

    More about this item


    Access and download statistics


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:buseco:v:43:y:2008:i:4:p:8-12. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sonal Shukla) or (Rebekah McClure). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.