Peter Stella on Fed Losses, Backdoor Fiscal Stimulus and Credit Easing
Macro Hive Conversations With Bilal Hafeez
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The Fed's Intervention in the Pandemic
The Fed provided a huge amount, I'm talking about trillions of dollars, of direct financing to the United States treasury. And then, you know, again, analytically, right? In QE, it doesn't matter whether you're buying treasuries or equities or MPS, right? The period after that, spoiler alert, what they did in the crisis period, thumbs up, perfect, great. After that, big mistake.
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