The Fed's Unprecedented Bailout of Everyone and Everything Could Prevent Total Collapse

The Fed understood even before Congress that the health-crisis of the pandemic and the subsequent economic crisis caused by the shelter-in-place orders and shuttering of businesses, travel and events would easily morph into a financial crisis that could be magnitudes greater than what happened in 2008-2009.

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The Coronavirus Will End Conservative Dogma About Big Government Forever

The sheer urgency of the new coronavirus and its damage are overpowering free markets, shuttering businesses and triggering responses that only four weeks ago looked impractical, naive and socialist. Now, they are essential.

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The Fed’s Playbook Says Raise Rates. What if That’s an Obsolete Game Plan?

 

As congressional Republicans prepare to pass their tax bill , the Federal Reserve is about to say goodbye to Janet Yellen as chair. She’s had a good run: The United States and the world recovered from the financial crisis; steady, if unspectacular, growth resumed. Yet now the Fed is in an unusual spot as Jerome Powell takes over.

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It's Time to Reinvent the Federal Reserve

In the endless swirl of noise and controversy emanating from Washington these days, it is easy to overlook a more mundane but significant challenge facing the US government: its institutions are getting old. With the exception of the Department of Homeland Security, most substantial agencies are at least decades old and many date back much longer.

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