The COVID-19 Crisis and the Federal Reserve's Policy Response | Zendy

Richard H. Clarida | Zendy; Burcu Duygan-Bump | Zendy; Chiara Scotti | Zendy

AI Assistant Blog Pricing

Home ZAIA Blog

Open Access

The COVID-19 Crisis and the Federal Reserve's Policy Response

Author(s) -

Richard H. Clarida,

Burcu Duygan-Bump,

Chiara Scotti

Publication year - 2021

Publication title -

finance and economics discussion series

Language(s) - English

Resource type - Journals

eISSN - 2767-3898

pISSN - 1936-2854

DOI - 10.17016/feds.2021.035

Subject(s) - covid-19 , crisis response , business , economics , financial system , political science , medicine , virology , public relations , outbreak , disease , infectious disease (medical specialty)

The COVID-19 pandemic and the mitigation efforts put in place to contain it delivered the most severe blow to the U.S. economy since the Great Depression. In this paper, we argue that the Federal Reserve acted decisively and with dispatch to deploy all the tools in its conventional kit and to design, develop, and launch within weeks a series of innovative facilities to support the flow of credit to households and businesses. These measures, taken together, provided crucial support to the economy in 2020 and are continuing to contribute to what is expected to be a robust economic recovery in 2021.

The content you want is available to Zendy users.

Already have an account? Click here to sign in.

Having issues? You can contact us here

Accelerating Research