Although the federal reserve had traditionally made discount loans only to commercial banks, in response to the financial crisis in 2008 the fed made primary dealers eligible for discount loans as well.
The U.S. central banking system—the Fed, or the Federal reserve—is the foremost powerful economic establishment within the us, maybe the planet. Its core responsibilities embody setting interest rates, managing the cash offer, and control financial markets.
The Global Financial Crisis of 2008-2009 is widely stated as “The great Recession.” It began with the housing market bubble, created by an overwhelming load of mortgage-backed securities that bundled high-risk loans.
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