Ten years on, Fed's long, strange, trip to zero redefined central banking
December 16, 2018 at 08:22 AM EST
Whatever the acronym, when the U.S. Federal Reserve dropped its policy rate to near zero on Dec. 16, 2008, to counter a full-scale economic crisis, it ushered in what the central bank's chairman at the time, Ben Bernanke, called "the end of the old regime."