The financial crisis can be charted through the unprecedented interventions of the Federal Reserve, which have stretched the agency well beyond its traditional role as a safety net for commercial banks. The Fed's emergency programs dwarf all the other governmental responses to the financial crisis, reaching a total of almost $1.2 trillion in spending and loans as of Wednesday.
SOURCE: Federal Reserve. | GRAPHIC: Binyamin Appelbaum, Brenna Maloney, Todd Lindemann and Laura Stanton -- The Washington Post
Bernanke's Outlook a Bit Brighter Article | The U.S. economy seems to be contracting at a slower rate than it was a few months ago, Federal Reserve Chairman Ben S. Bernanke told lawmakers yesterday, delivering a message of optimism that was tempered by his forecast that the economy could perform well below its potential for some time to come.
Major Banks Get Stress Test Results Today Article | Regulators plan to brief the nation's largest banks today on the final results of federal tests to determine whether the companies have sufficient reserves to weather the recession, with a public announcement scheduled for Thursday afternoon.