2008 Financial Crisis 2008 Financial Crisis The Financial crisis in the year 2008 affected globally. The onset of the recession started with the huge flow of money in the American economy. During the year 2001 U.S faced recession but for a short span of time. In order to recover the economy the Federal Reserve lowered the interest rate from 6.5% in May 2000 to 1.75 % in December 2001. Money was cheaper and investors invested more money in the economy. This was the beginning of the problem. The trigger of the crisis was the housing bubble.
As credit was easily ...