[DOWNLOAD] "Monetary Policy and Asset Prices Revisited (Report)" by The Cato Journal # eBook PDF Kindle ePub Free

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eBook details

• Title: Monetary Policy and Asset Prices Revisited (Report)
• Author : The Cato Journal
• Release Date : January 01, 2009
• Genre: Politics & Current Events,Books,
• Pages : * pages
• Size : 247 KB

Description

We are in the midst of a global financial crisis that is now weighing heavily on economies around the world. Although the outlook remains extremely uncertain, both the fragility of the financial system and the weakness in real activity seem likely to persist for a while. To promote maximum sustainable economic growth and price stability, the Federal Reserve has responded to this crisis by easing monetary policy markedly, and we have greatly expanded our liquidity facilities to keep credit flowing when private lenders have become reluctant or unable to do so. Other central banks have also cut policy rates significantly and expanded their lending. In addition, the federal government and governments around the world have taken extraordinary actions to strengthen financial systems to preserve the ability of households and businesses to borrow and spend. The current situation is so severe that it calls for careful review of how such a crisis evolved and how we can prevent a similar situation from happening again. This conference is a welcome step in that review, as it asks about the lessons we have learned, particularly for monetary policy, from the collapse of subprime lending and the preceding house-price bubble--developments that contributed importantly to the present financial crisis.

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