Recession Response Quotes

I think the bailouts in 2008 were wrong.

There are long lags between the start of a downturn and the potential launch of an effective fiscal stimulus.

New policy tools, which helped the Federal Reserve respond to the financial crisis and Great Recession, are likely to remain useful in dealing with future downturns.

By the time Obama came into office, Washington had already agreed over a period of a few weeks to a $700 billion government infusion into the world banking system. Nothing of the sort had ever been done before, and it was done spit spot with very little national debate.

Stronger productivity growth would tend to raise the average level of interest rates and, therefore, would provide the Federal Reserve with greater scope to ease monetary policy in the event of a recession.

Faced with a deep recession, some say the answer is to expand the role of government.

The Global Financial Crisis and Great Recession posed daunting new challenges for central banks around the world and spurred innovations in the design, implementation, and communication of monetary policy.

In response to the recession, the Obama administration chose to emphasize costly, short-term fixes - ineffective stimulus programs, myriad housing programs that went nowhere, and a rush to invest in 'green' companies. As a consequence, uncertainty over policy - particularly over tax and regulatory policy - slowed the recovery.