2  BIS Review 162/2009  What has the Federal Reserve been doing to support the economy and the financial system? The discussion of where the economy is headed brings us to our second question: What has the Federal Reserve been doing to support the economy and the financial system?
The Federal Reserve has been, and still is, doing a great deal to foster financial stability and to spur recovery in jobs and economic activity. 3 Notably, we began the process of easing monetary policy in September 2007, shortly after the crisis began.