"The Federal Reserve will continue to investigate ways to use its balance sheet to further support credit markets and economic activity," the Fed stated.
The financial-crisis that began in August 2007 was the most severe of the post-World War II era and, very possibly, the worst in modern history, given the global scope of the crisis, its broad effects on a variety of markets and institutions, and the number of systemically critical financial institutions that failed or were on the verge of failing. Although strong reactions by authorities throughout the world prevented the global financial system from collapsing in the fall of 2008, the crisis was powerful enough to cause a profound global recession from which we are only now beginning to emerge.
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