The Fed introduced various credit programs to deal with the 2007-09 financial crisis.
The deep, protracted downturn in 2007-09 was followed by an unusually slow recovery
The 2007-10 crisis stemmed in part from an expansion of mortgages to high-risk borrowers
The failures of Bear Stearns and Lehman Brothers and the bailout of AIG occurred in 2008
The 1999 Act promoted financial integration by repealing parts of the Glass-Steagall Act while giving the Fed new supervisory powers
The Dow dropped 22.6 percent on Black Monday, October 19, 1987
This period of relative macroeconomic stability lasted from the mid-1980s to 2007
The defining macroeconomic period of the second half of the 20th century lasted from 1965 to 1982
The Fed used its newly gained independence to create a new kind of monetary regime