The Ethos of Economics with John Cogan and Kevin Warsh | Peter Robinson | Hoover Institution
Uncommon Knowledge
Lessons from the Global Financial Crisis
The Global Financial Crisis revealed the vulnerability of the US banking system and financial markets, highlighting that the US economy was not as resilient as believed. This led to unprecedented actions by the Federal Reserve and other central banks, involving measures like quantitative easing, which was initially seen as unconventional and unsustainable. However, over time, quantitative easing became a widespread policy globally, utilized not only during economic downturns but also in times of prosperity, until challenges such as inflation emerged.
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