Steven Kelly on Crises, Stability, and the Fed’s Role in Financial Markets
Macro Musings with David Beckworth
00:00
The 19 87 Stock Market Crash
A change in 19 91 to the law allows the fed to intervene in these market settings with the liquidity facilities. The danger i see with that is yourestarting to pick winners and losers, he says. But when you get into main street facilities,. it becomes more apparent, a more pronounced, and it could raise political legitimacy questions about the fed. And so i'm wondering what your thoughts are on 13 three.
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