Here is the financial crisis of 2007-2008 timeline mapped on the S&P500 chart. Only major events and announcements leading upto endof Sept ’08 are included. After Sept. ’08, Federal Reserve, US Treasury, IMF and major central banks took a number of steps to quell the storm and stabilize the market. Majority of these steps were taken in…
The RBI’s dramatic step had some effect – the rupee gained against the dollar in early trading – but economists said such stop-gap measures will only work as quick fixes, and without concerted efforts by Delhi toward fiscal consolidation and reform, the rupee is unlikely to recover to a more comfortable Rs50 against the…
The UK economy is in the midst of a double dip recession – its first since 1975. “The UK economy has returned to recession, after shrinking by 0.2% in the first three months of 2012.” UK manufacturing is slowing down drastically increasing fears for growth. Despite this Prime Minister Cameron does not plan to abondaon austerity…
Start of Quantitative Easing. On Tue November 25, 2008 Federal Reserve announced the purchase of direct obligations of housing-related government-sponsored enterprises. The program included the purchase of up to $100 billion in GSE direct obligations and purchase of up to $500 in MBS. The S&P500 closed at 851.81 on Nov 24, 2008 (the low was…
You must be logged in to post a comment.