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 Decade: 2000-2009
 Year: 2009
 Month: June
 Collection: Congressional Research Service Reports
Financial Market Turmoil and U.S. Macroeconomic Performance

Financial Market Turmoil and U.S. Macroeconomic Performance

Date: June 9, 2009
Creator: Elwell, Craig K.
Description: Lending in credit markets requires confidence in the borrowers' ability to repay the debt (principal and interest) in full and on schedule. The current turmoil in U.S. financial markets is the result of a breakdown in that necessary confidence. A number of indicators have pointed to a substantial rise in the cost of credit and a decrease in the flow of credit to the broader economy. Economic policy may be needed to get credit flowing smoothly again and to mitigate the damage incurred by households and non-financial businesses. Three types of policy response exist and are being applied in varying degrees. This report discusses each of these policy responses.
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