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We find that Federal Open Market Committee (FOMC) actions (especially rate cuts) narrowed corporate credit spreads during the pre-crisis period of 2002-2007. During the 2008 crisis period, we find that both conventional cuts and quantitative easing decreased spreads. But FOMC inactions caused...
Persistent link: https://www.econbiz.de/10012959322
We find that Federal Open Market Committee (FOMC) actions (especially rate cuts) narrowed corporate credit spreads during the pre-crisis period of 2002-2007. During the 2008 crisis period, we find that both conventional cuts and quantitative easing decreased spreads. But FOMC inactions caused...
Persistent link: https://www.econbiz.de/10012973590
Persistent link: https://www.econbiz.de/10012005695
Persistent link: https://www.econbiz.de/10012006217