Panic Slashing: When the Federal Reserve realizes its economic models are way off and news events expose its public pronouncements of "everything is alright" as complete bunk, the Fed engages in "panic slashing" -- quickly lowering rates to a negative rate of return after adjusting for inflation in the hopes that someone (anyone) will actually start to make consumer loans and to save the markets from those embarrassing things called "losses".
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The Bonddad Economic History Project
At the beginning of 2012, I decided to start looking at the actual, statistical history of the US economy starting in 1950. The reason is simple: to find out what really happened. So, when you see title of a post that begins with a year such as 1957, followed by "employment" or "Fed policy: you know what it's for. You can also access the information by typing in BE for Bonddad econ and a year to find information on a particular year.
Here is a link to pages that contain links to all the posts on the years listed.