The Great Recession of 2008 was so concerning, the Federal Reserve took risky and unprecedented moves to stop the downward spiral of the American economy. It expanded its policy initiatives and the levels of commitment it made to soften the blow. Needless to say, these actions caused some panic. Blow into a brown paper bag and revisit that time when short-term credit markets simply stopped operating. Presented by Michael K. Salemi Learn more about the Great Recession at wondrium.com/youtube 0:00 Will Quantitative Easing 2 Help or Hurt Economy? 3:34 What Is Normal Federal Reserve Policy? 5:10 Why Was Normal Policy Inadequate for Great Recession? 12:06 TED (Treasury bill Euro dollar) Spread Spikes 18:12 Fed Creates Term Auction Facility 23:03 Term Asset-Backed Securities Loan Facility 26:30 Banks Stop Lending ------------------------------------------- The Great Courses is the global leader in lifelong learning and our video-on-demand service The Great Courses Plus gives you unlimited, uninterrupted access to a world of learning anytime and anywhere you want it. With courses on thousands of topics, you are sure to find something that will ignite your curiosity and invigorate your passion for learning. Enjoy a curated sampling of our full catalog of content by subscribing to our YouTube channel. We add new history, science, and math videos every week. ------------------------------------------- Read articles from the smartest experts in their fields: www.Thegreatcoursesdaily.com Find us on all our social channels: -Facebook: www.facebook.com/wondrium -Twitter: twitter.com/wondrium -Instagram: www.instagram.com/wondrium ------------------------------------------- #TheGreatRecession #TEDSpread #AmericanEconomy

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