Admiral Michael Mullen, chairman of the Joint Chiefs of Staff, met with Hoover fellow George Shultz, scholars, and national security affairs fellows. (Photo left to right, Colonel Baker, Admiral Mullen, and George Shultz.)
During the past year, severe stress in the financial markets has given rise to a host of new Federal Reserve actions. The Fed has created a trio of new facilities designed to alleviate the credit crunch and support vulnerable financial firms.
Cecile Shea is a national security affairs fellow for 2007-8 at the Hoover Institution representing the U.S. Department of State. She discussed the short-term efficacy versus the long-term goals of U.S. foreign policy.