<p>First, the interest on reserves and the fed funds rate changes:</p>

<p><a href="https://i.sstatic.net/w3xF2.png" rel="nofollow noreferrer"><img src="https://i.sstatic.net/w3xF2.png" alt="Interest on Excess Reserves and Effective Fed Funds Rate Log Scale"></a>
Source: <a href="https://fred.stlouisfed.org/graph/?g=k4S2#0" rel="nofollow noreferrer">FRED</a></p>

<p>Second, we can roughly see the pattern of the QE actions by looking at the balance sheet of the Fed. </p>

<p><a href="https://i.sstatic.net/Mhz0B.png" rel="nofollow noreferrer"><img src="https://i.sstatic.net/Mhz0B.png" alt="All Federal Reserve Banks: Total Assets"></a>
Source: <a href="https://fred.stlouisfed.org/series/WALCL#0" rel="nofollow noreferrer">FRED</a></p>

<p>For details on the timing of quantitative easing actions, see Figure 2 from Fawley and Neely (2013):</p>

<p><a href="https://i.sstatic.net/YR7Lz.png" rel="nofollow noreferrer"><img src="https://i.sstatic.net/YR7Lz.png" alt="enter image description here"></a>
<a href="https://i.sstatic.net/4d0dG.png" rel="nofollow noreferrer"><img src="https://i.sstatic.net/4d0dG.png" alt="enter image description here"></a>
Source: <a href="https://files.stlouisfed.org/files/htdocs/publications/review/13/01/Fawley.pdf" rel="nofollow noreferrer">Four Stories of Quantitative Easing</a></p>

CC BY-SA 4.0
2019-04-02T18:26:46.550Z
2019-04-02T18:26:46.550Z
BKay
<p>What major monetary policy actions were taken during the Great Recession (2007-2009)?</p>

<p>Quantitative easing and unconventional policy actions such as asset purchases and "forward guidance". I think I'm missing some things.  </p>

CC BY-SA 3.0
2015-01-23T17:00:04.397Z
Is this for homework?
123
CC BY-SA 3.0
2015-01-23T17:05:44.500Z
Ya kind of, I'm trying to gather some different viewpoints on the topic, in addition to my own. This is only part of the question. I broke it up because someone complained that it was too vague and large of a question. Whole question is What major fiscal and monetary policy actions were taken during the Great Recession (2007-2009)? What impact did they have on U.S. economic performance?
Amy
CC BY-SA 3.0
2015-01-25T02:03:19.650Z
I think this is a good question. I don't know what actions were taken. It'd be nice to have a list of the major points.
jmbejara
CC BY-SA 3.0
2015-02-26T01:13:02.297Z
@Amy, unfortunately it doesn't look like your question is going to be answered? Did you work out the answer by yourself? If so, I think it would be appreciated if you put it here because it's a good question.
Jamzy
<macroeconomics><monetary-policy><federal-reserve>
What major monetary policy actions were taken during the Great Recession (2007-2009)?
Amy
# What major monetary policy actions were taken during the Great Recession (2007-2009)?

(Asked by: username_0 on 2015-01-23)

What major monetary policy actions were taken during the Great Recession (2007-2009)?

Quantitative easing and unconventional policy actions such as asset purchases and "forward guidance". I think I'm missing some things.

**Tags:** macroeconomics, monetary-policy, federal-reserve

> **Comments:**
> **username_1**: Is this for homework?  
> **username_0**: Ya kind of, I'm trying to gather some different viewpoints on the topic, in addition to my own. This is only part of the question. I broke it up because someone complained that it was too vague and large of a question. Whole question is What major fiscal and monetary policy actions were taken during the Great Recession (2007-2009)? What impact did they have on U.S. economic performance?  
> **username_2**: I think this is a good question. I don't know what actions were taken. It'd be nice to have a list of the major points.  
> **username_3**: @username_0, unfortunately it doesn't look like your question is going to be answered? Did you work out the answer by yourself? If so, I think it would be appreciated if you put it here because it's a good question.  

---

## 1 answers

### Answer by username_4 on 2019-04-02. Score: 3

First, the interest on reserves and the fed funds rate changes:

[![Interest on Excess Reserves and Effective Fed Funds Rate Log Scale](https://i.sstatic.net/w3xF2.png)](https://i.sstatic.net/w3xF2.png)
Source: [FRED](https://fred.stlouisfed.org/graph/?g=k4S2#0)

Second, we can roughly see the pattern of the QE actions by looking at the balance sheet of the Fed.

[![All Federal Reserve Banks: Total Assets](https://i.sstatic.net/Mhz0B.png)](https://i.sstatic.net/Mhz0B.png)
Source: [FRED](https://fred.stlouisfed.org/series/WALCL#0)

For details on the timing of quantitative easing actions, see Figure 2 from Fawley and Neely (2013):

[![enter image description here](https://i.sstatic.net/YR7Lz.png)](https://i.sstatic.net/YR7Lz.png)
[![enter image description here](https://i.sstatic.net/4d0dG.png)](https://i.sstatic.net/4d0dG.png)
Source: [Four Stories of Quantitative Easing](https://files.stlouisfed.org/files/htdocs/publications/review/13/01/Fawley.pdf)


---

