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Open and Operating: The Federal Reserve Responds to 9/11

Open and Operating: The Federal Reserve Responds to 9/11

This 17-minute video explains all the different Federal Reserve actions to stabilize the economy beginning the morning of September 11. It is a great overview of the Fed and how they function, showing specific examples of the different things they do: cash in ATMs, FedWire, SwapLines for foreign currency, FOMC adjusting the federal funds rate target, etc. Some actual news footage from 9/11 is included, including film from the security cameras at the New York Regional Federal Reserve Bank, which is located two blocks from ground zero.

 

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