Financial and Monetary Systems

An economist explains what happens if there’s another financial crisis

Traders work on the floor of the New York Stock Exchange August 9, 2007. U.S. stocks tumbled on Thursday, with the Dow and S&P down nearly 3 percent, after a French bank froze three funds that invested in U.S. subprime mortgages, prompting central banks to take steps to calm investors. REUTERS/Lucas Jackson (UNITED STATES) - GM1DVWVVVHAA

A crisis that started in the banking sector spread to the real economy around the world. Image: REUTERS/Lucas Jackson

Kenneth Rogoff
Maurits C. Boas Chair of International Economics, Harvard University
Ross Chainey
Content Lead, UpLink, World Economic Forum
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The Federal Reserve undertook quantitative easing to mitigate the impact of the financial crisis.
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