Both institutions experienced a run on them by their financial counterparties, who were unwilling to roll over their funding because of the concerns that the poor quality of the assets on their balance sheets might render the two institutions insolvent. The crucial distinction between uncertainty and risk came to the fore.
The February Monetary Policy Report provides additional information on employment disparities between rural and urban areas. Overall consumer price inflation, as measured by the 12-month change in the price index for personal consumption expenditures (PCE), is estimated to have been 1.7 percent in December, held down by recent declines in energy prices.