Monetary policy and asset purchases In addition to supporting the functioning of financial markets, the Federal Reserve also applied an extraordinary degree of monetary policy stimulus to help counter the adverse effects of the financial crisis on the economy. In September 2007, the Federal Reserve began reducing its target for the federal funds rate from an initial level of 5–1/4 percent.
Ewart S Williams: The Caribbean Money Market Brokers - impact on Trinidad and Tobago Feature address by Mr Ewart S Williams, Governor of the Central Bank of Trinidad and Tobago, at the launch of the Caribbean Money Market Brokers Composite Leading Indicator, Trinidad, 24 January 2006.