In March 2009, the U.S. economy was in a severe recession not seen since the Great Depression, when the mortgage crisis was out of control. The situation changed dramatically within one year from the Federal Reserve helped to rescue the investment bank Bear Stearns. Deflation, not inflation, was the main concern. Interest rates were close to zero percent. Five million jobs were lost. The new administration of Barack Obama pushed ahead with a $ 787 billion stimulus package, in combination with various programs to address frozen credit markets and depressed investor confidence. Yet the burning question in the mind of every politician was - how effective are the various work plans for the revival of the U.S. economy "Hide
by Laura Alfaro, Renee Kim Source: Harvard Business School 20 pages. Publication Date: April 7, 2009. Prod. #: 709045-PDF-ENG
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