Donald L Kohn: Federal Reserve’s policy actions during the financial crisis and lessons for the future Speech by Mr Donald L Kohn, Vice Chairman of the Board of Governors of the Federal Reserve System, at the Carleton University, Ottawa, 13 May 2010. The original speech, which contains various links to the documents mentioned, can be found on the US Federal Reserve System’s website.
*  *  *  The financial and economic crisis that started in 2007 tested central banks as they had not been tested for many decades. We needed to take swift and decisive action to limit the damage to the economy from the spreading distress in financial markets.