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Emergency Economic Stabilzation Act
Budget-
The fed was reaching far beyond its usual practice of holding government securities that it was buying assets in "emergencies"; buying assets wherever the "latest fire needed to be extingushed". President Bush passed this in order to provide $700 billion to the fed for the purchase of assets and morgtage-backed securities. -
Temporary Reciprocal Arrangement
Trade-
In response to elevatetd pressures of the U.S. dollar short-term funding markets. The purpose for creating this "Swapline" is to help improve the liquidity(high level of trading activity) in the U.S. and in other global financial markets. New Zealand, Canada, Denmark, Australia, Japan, and England are a few of the National Banks invovled. The arrganment was authorized through April 30, 2009. -
American Recovery and Reinvesment Act
Leadership-
President Barrack Obama singed the Recovery Act into law. The act stated it would achieve its goals of creating new jobs/saving existing ones, spur economy investment, and foster unprecedent levels of accountability and transperency in goverement spending. This would be done by funding for federal contracts/grants/loans, tax cuts, unemployed benefits, benefits for working families. -
Unprecedent Government-wide regulatory "lookback
Budget-
President Barrack Obama directed agencies to reivew to eliminate red tape and to streamline current requirements. As a result, more than two dozen agencies found ways they can save money. -
Affordable Care Act
Leadeship-
President Barrack Obama signs the Affordable Care Act into law. The law includes attempts to reform the health care system through new benefits, rights, protections, and rules for insurance companies. -
Debt Ceiling Crisis of 2013" Payroll Tax cut and Tax increase ---SAVINGS
Savings-
In response to the "Fiscal Cliff Crisis" of 2013, President Obama enacted a tax package that provides temporary paryroll tax cuts and tax increases for high-income families. This restrained a great deal of Consumer spending and more Consumer Saving. -
Federal Open Market Committee states reduction in the pace of Asset Purchases
Budget-
The commitee indents to support ongoing improvement in labor market conditions. It will so by making a further reduction in the pace of its asset purchases. VIDEO LINK:
http://www.reuters.com/article/2015/05/08/us-usa-economy-jobs-idUSKBN0NS1DT20150508 -
FOMC keeps federal fund rate at 0-1/4 percent
Budget-
In its efforts to achieve maximum employment, the FOMC continues its low range in hopes that the unemployment rate remains above 6-1/2 percent. Its predicted that the long-term inflation expectations will be well anchored.
