In late 2008,the US Treasury Department began

Question

Quizplus · Accepted Answer

In late 2008, the US Treasury Department implemented the Troubled Asset Relief Program (TARP) to provide financial assistance to struggling financial institutions and stabilize the banking system. This involved purchasing troubled assets from banks and other financial institutions to improve liquidity and restore confidence in the economy. Option A is incorrect because banks were not closed by the Treasury Department but instead provided assistance. Option C is incorrect because the Federal Reserve, not the Treasury Department, has the authority to raise interest rates. Option D is incorrect because open market operations are conducted by the Federal Reserve, not the Treasury Department. Option E is incorrect because there was no implementation of a new Bank of the United States.

In Late 2008,the US Treasury Department Began