Federal Reserve officials anticipate economic contraction

March 31st, 2008|by Michael Ashley Schulman, Perspectives, The Big Picture|

Federal Reserve officials anticipate economic contraction in the first half of 2008. Recently, Chairman Bernanke invoked rarely used authority to provide emergency financing for investment banks. Fed officials sought to limit the broad economic impact of what former Fed Chairman Alan Greenspan terms the worst credit crisis in 50 years. Central bankers cut the benchmark […]