Robin Brooks on the Dollar, Fiscal Dominance, and Geoeconomics
Macro Musings with David Beckworth
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Navigating Fiscal Dominance: Lessons from the Pandemic
This chapter explores fiscal dominance as embodied by the Federal Reserve's pandemic actions, highlighting the need for sound fiscal policy amid crises. It examines the potential consequences of central banks acting as stabilizers and the interplay between political pressures and monetary policy, drawing on historical context and current market reactions to inflation.
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