United States: 2009 Article IV Consultation: Staff Report; Staff Supplement; and Public Information Notice on the Executive Board Discussion
July 31, 2009
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This 2009 Article IV Consultation highlights that the U.S. economy has experienced the worst financial crisis since the Great Depression. In the second half of 2008, financial pressures intensified and came to a head with the failure of Lehman Brothers in September. Executive Directors have commended the authorities’ forceful and internationally coordinated actions to stabilize and repair the financial sector. As a result of their increasingly strong and comprehensive policy measures, the sharp fall in economic output seems to be ending, and confidence in financial stability has strengthened.
Subject: Banking, Expenditure, Financial crises, Financial institutions, Health care spending, Loans, Mortgages, Public debt
Keywords: capital injection, CR, economy, exchange rate, Fed official, financial condition, financial crisis, financial market intervention, Global, Health care spending, housing market, IMF's view, ISCR, Loans, market confidence, monetary policy, Mortgages, negative equity
Pages:
62
Volume:
2009
DOI:
Issue:
228
Series:
Country Report No. 2009/228
Stock No:
1USAEA2009001
ISBN:
9781451839739
ISSN:
1934-7685
