1. U.S. Monetary Policy and the Dollar Roberto Chang February 2012

2. USA: Real Estate Price Index (S&P/Case-Shiller 20 City Composite Index) Source: MacroMarkets

3. US: Federal Funds Rate (Percentage) Source: FRED, St. Louis Fed

4. US: Federal Funds Rate (Percentage) Source: FRED, St. Louis Fed

5. Trade Weighted U.S. Dollar Index Fuente: FRED, St. Louis Fed

6. Figure 4.10 U.S.–Eurozone Interest Rates and Exchange Rates, 1999–2004 Feenstra and Taylor: International Macroeconomics, Second Edition Copyright © 2012 by Worth Publishers

7. Real Interest Rates, 1999-2006 10-Year 3-7/8% Treasury Inflation-Indexed Note. Source: FRED, Federal Reserve Bank of St. Louis

8. TED Spread (LIBOR Versus T-Bill, percentage points) Northern Rock Bear Stearns Lehman

9. Total Asset Backed Financial, Non Asset Backed Non Financial, Non Asset Backed Commercial Paper Market (Millions US$)

10. US: GDP Growth (% last 12 months) Source: FRED, St. Louis Fed

11. US: Federal Funds Rate (Percentage) Source: FRED, St. Louis Fed

12. US: Federal Funds Rate Source: FRED, St. Louis Fed

13. Federal Reserve: Total Assets (Millions of US$) Source: Board of Governors

14. Selected Federal Reserve Assets (Billions of US$) Source: Board of Governors

15. Emergency Liquidity Programs (Billions of US$)

16. Federal Reserve: Securities Held (Billions US$) Source: Board of Governors Total T Bills Mortgage Backed Securities Freddie, Fannie

17. Cash in Circulation Bank Reserves Treasury Deposits Pasivos de la Reserva Federal (Millones de US$)

18. Unnumbered Figure 4.1 A broken transmission: the Fed’s extraordinary interventions did little to change private credit market interest rates in 2008–2009 Feenstra and Taylor: International Macroeconomics, Second Edition Copyright © 2012 by Worth Publishers