David Beckworth on Money, Monetary Policy, and the Great Recession

David Beckworth on Money, Monetary Policy, and the Great Recession

From: EconTalk
0 0 4 years ago
Was the Financial Crisis of 2008 caused by a crisis in the housing market? Or did the Federal Reserve turn a garden-variety recession into the Great Recession? David Beckworth of Western Kentucky University talks with EconTalk host Russ Roberts about the Fed's response to the recession that began in December of 2007 and worsened in 2008. Beckworth argues that the Fed failed to respond adequately to the drop in nominal GDP by keeping interest rates too high for too long. Beckworth describes ... See More

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