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Government relief efforts for COVID-19 should focus on conditional grants backed by appropriate funds, and not on the Fed’s lending programs.
COVID-19 is already causing financial distress for millions of Americans, but existing societal wealth gaps and financial access challenges are only exacerbating the crisis.
COVID-19 will cause immediate and lasting economic damage in the form of increased uncertainty, heightened risk aversion, lower productivity growth and more.
Dollar swap lines, a standing repo facility, and increased IMF lending are some ideas that could be adopted in order to address the dollar shortage problem.
Mass testing, immunity passes, and a Hotel “Controlled Corona” could improve state capacity and accelerate recovery.
COVID-19 is triggering dangerous shockwaves throughout the European economy, and an aggressive fiscal response may be necessary to mitigate the damage.
COVID-19 represents a watershed moment for relations between the Fed, Congress, and Treasury.
Passing the CARES Act and enabling the Fed to buy municipal bonds are two steps toward a robust response to COVID-19 and its adverse economic impacts.
The post-virus economy faces possibility of higher inflation, threats to Fed independence, and increased pressure on the European Union.
The COVID-19 crisis is hitting emerging markets especially hard, and the global dollar cycle can explain why.