As indications of economic weakness proliferated, the Committee  BIS Review 19/2009  1  continued to respond, bringing down its target for the federal funds rate by a cumulative 325 basis points by the spring of 2008. In historical comparison, this policy response stands out as exceptionally rapid and proactive.
The printing of money is an appropriate image here; from an economic perspective, the printing press is not necessary, as the creation of money primarily shows up on the central bank’s balance sheet, on its accounts. How does Johann Wolfgang von Goethe enter the equation when talking about the creation of money. Why have I widened the discussion further? 3.