First Responders
2020
HKS Authors
See citation below for complete author information.
Aetna Professor of the Practice of Economic Policy
Abstract
In 2008, the world’s financial system stood on the brink of disaster. The United States faced an unprecedented crisis when the investment bank Lehman Brothers collapsed, setting off a global panic. Faced with the prospect of a new Great Depression, the Treasury Department, the Federal Reserve, the Federal Deposit Insurance Corporation, and other agencies took extraordinary measures to contain the damage and steady the financial system and the economy.
Citation
Furman, Jason. "The Fiscal Response to the Great Recession: Steps Taken, Paths Rejected, and Lessons for Next Time." First Responders. Yale University Press, 2020, 451-488.