"Realizing that their traditional instruments were inadequate for responding to the crisis that began on 9 August 2007, Federal Reserve officials improvised. Beginning in mid-December 2007, they implemented a series of changes directed at ensuring that liquidity would be distributed to those...

About the authors -- Preface -- Learning tools walkthrough -- Money and the financial system -- An introduction to money and the financial system -- Money and the payments system -- Interest rates, financial instruments, and financial markets -- Future value, present value, and interest rates --...