Fed’s response averted a depression: Blinder


The Federal Reserve and US government response to the financial crisis helped avert a second Great Depression, research co-authored by a former Federal Reserve governor said.

In a paper published on Wednesday, Alan Blinder, a professor of economics at Princeton University and a former vice chairman at the Federal Reserve, and Mark Zandi, the chief economist of Moody's Analytics, the research arm of the rating agency, showed that without the Fed's response to the financial crisis, GDP in 2010 wou

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