President Bullard on the Origins of the Financial Crisis - Part 2: Did the Fed Leave Interest Rates Too Low for Too Long?

June 11, 2009

St. Louis Fed President James Bullard discusses the origins of the financial crisis. Part 2 focuses on whether the Fed left interests rates too low for too long. Raising rates sooner may or may not have helped, but it wouldn't have fixed the problem.

Transcript (pdf)

• Part 1: What Happened?
• Part 2: Did the Fed Leave Interest Rates Too Low for Too Long?
• Part 3: What Challenges Do We Face for Regulatory Reform?