On Friday, the Federal Reserve released transcripts from its closed-door policy meetings in 2007, the first year of the financial crisis. The transcripts show that in December 2007, the month that the recession is now known to have begun, Fed officials were working from economic projections that would prove wildly inaccurate. Here’s a look at how the global markets reacted to the height of the crisis in 2008.
Sept. 22Sen. Chuck Hagel (R-Neb.) walks into a meeting held by Senate Banking Committee Chairman Sen. Christopher Dodd (D-Conn.) on Capitol Hill.Sarah L. Voisin/The Washington Post