Fed's Critical Moments: Ferguson on Sept. 11

The transcript discusses the Federal Reserve's crisis management during a significant event, highlighting decision-making under uncertainty, initial responses, and the importance of keeping the Federal Reserve and banks open. It also covers the use of monetary policy and balance sheet tools for financial stability, marking a shift in crisis management strategies.

What role did the discount window play in the Federal Reserve's response to the crisis?

Discuss the implications of closing banks during a crisis as mentioned in the text.

How did the Federal Reserve's actions on 9/11 set a precedent for future crisis management?