Adam M. Zaretsky
The Fed’s too-little, too-late actions during the Great Depression failed to save the banking and payments systems from widespread panic. Since then, though, the Fed appears to have learned its lesson.
On the surface, the recent rise in the number of past due loans appears to pose a significant threat to bankers’ profits. A more thorough review, however, shows that the trend is nothing to be alarmed about.
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Fed in Print: An index of the economic research conducted by the Fed.