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Credit Crisis

Bernanke: 2008 Meltdown Was Worse Than Great Depression

Bloomberg

Former Federal Reserve Chairman Ben Bernanke, a prominent student of the Great Depression, contends that the 2008 financial crisis was actually worse than its 1930s counterpart.


Source: http://blogs.wsj.com/economics/2014/08/26/2008-meltdown-was-worse-than-great-depression-bernanke-says/?mod=WSJBlog

Fed’s Williams Still Sees Rate Hikes Some Time Next Year

Federal Reserve Bank of San Francisco President John Williams told cable news channel CNBC that he still expects the first central bank increase in short-term interest rates will come around a year down the road.
“A rate hike some time in the middle of 2015 seems reasonable” right now based on the current outlook for the economy, Mr. Williams said in the interview Thursday, echoing comments he’s made in recent public remarks.


Source: http://blogs.wsj.com/economics/2014/08/21/feds-williams-still-sees-rate-hikes-some-time-next-year/?mod=WSJBlog

Despite Retreat, Fed to Keep Bond Buys in Policy Toolkit

The Federal Reserve is on track to end its historic bond-buying program in October, but that won’t mean the disappearance of a central banking tool that proved controversial inside and outside the institution.
Though deeply divisive on Wall Street and in Congress and academia, many top Fed officials believe their bond buying helped stabilize markets during the crisis and support economic growth afterward. This means the policy-known to some as quantitative easing or QE—could be dusted off in the future in the event of another economic calamity.


Source: http://blogs.wsj.com/economics/2014/08/21/despite-retreat-fed-to-keep-bond-buys-in-policy-toolkit/?mod=WSJBlog

Bank Lending Still Tight, S.F. Fed Study Finds

Banks are still reticent about making new loans more than five years into the U.S. economic recovery, suggesting business borrowing remains relative costly despite the Federal Reserve’s prolonged policy of low interest rates.
Those are the findings of a new study from the San Francisco Fed, which says interest rates on commercial and industrial loans are still fairly high relative to benchmark borrowing costs set by the central bank.


Source: http://blogs.wsj.com/economics/2014/08/04/bank-lending-still-tight-s-f-fed-study-finds/?mod=WSJ_EC_RT_Blog
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