Steven Kelly on Crises, Stability, and the Fed’s Role in Financial Markets
Macro Musings with David Beckworth
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The Fed's Thinking About Liquidity Constrained Stories
Main street was one of the carsact oa congress wrote out. Verseis they're just in a bad position. It doesn't really serve the back stop roll that market base type stuff does. When you have no announcement effect, you kind of have to do the lending. And when the crisis does call for it, and a pandemic, there's parly no moral hazard to go around.
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