Confidence Interval Projections of the Federal Reserve Balance Sheet and Income
Posted: 14 Oct 2017
Date Written: January 13, 2017
In response to the financial crisis of 2008 and the subsequent recession, the Federal Reserve employed large-scale asset purchases (LSAPs) and a maturity extension program (MEP) with the purpose of reducing longer-term interest rates, and thereby promoting more accommodative financial conditions at a time when the conventional monetary policy tool, the federal funds rate, was at its effective lower bound.
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