Charles Calomiris, an economist at Columbia University, said the following about the initiatives of the Treasury and the Fed during...
Charles Calomiris, an economist at Columbia
University, said the following about the initiatives of the Treasury and
the Fed during the financial crisis of 2007-2009: "It has been a really
head-spinning range of unprecedented and bold actions. ... That is
exactly as it should be. But I'm not saying that it's without some cost
and without some risk."
1) What was unprecedented about the Treasury and the Fed's actions? What risks did these actions involve?
2) Do you think that the Fed's actions should be
"head-spinning" (i.e. suprising), or do you think they should be
predictable? Explain.
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