Jeanna Smialek on *Limitless: The Federal Reserve Takes on a New Age of Crisis*
Macro Musings with David Beckworth
00:00
The Evolution of the Fed's Emergency Powers
In 2008, the Fed really expanded what it could do and invoked emergency powers. It was never really a super heavily used function of the Fed during the Great Depression. The new restrictions are basically that the Treasury Secretary has to sign off on whatever you're going to do with these programs.
Transcript
Play full episode
