The Fed Fights The Virus
One more thing to worry about: The economic collapse caused by the novel coronavirus could cause massive problems in the financial system, and those problems could make the economy even worse.
That worry has prompted the Federal Reserve to do a bunch of dramatic things in the past few days. Today's show is a quick, emergency pod to explain what's going on. It's not really about interest rates. It's about the Fed stepping in and lending into a potential panic.
On the show, we discuss repo lending, the discount window, swap lines, quantitative easing and, yes, interest rates.
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