An overview of the Fed's new credit policy tools and their cushioning effect on the COVID-19 recession

The economics literature lacks articles that provide a broad roadmap—let alone a logical explanation—of the new set of Federal Reserve policy tools that were created to counter the COVID-19 recession. This study provides an overview of the motivation for these new credit-easing programs—namely to da...

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Autores principales:	Michael D. Bordo, John V. Duca
Formato:	article
Lenguaje:	EN
Publicado:	Elsevier 2021
Materias:	E58 E52 G12 G18 Economics as a science HB71-74
Acceso en línea:	https://doaj.org/article/20c3780d92f94d8d992fda1654af08ef
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spelling	oai:doaj.org-article:20c3780d92f94d8d992fda1654af08ef2021-12-02T05:04:46ZAn overview of the Fed's new credit policy tools and their cushioning effect on the COVID-19 recession2667-319310.1016/j.jge.2021.100013https://doaj.org/article/20c3780d92f94d8d992fda1654af08ef2021-01-01T00:00:00Zhttp://www.sciencedirect.com/science/article/pii/S2667319321000136https://doaj.org/toc/2667-3193The economics literature lacks articles that provide a broad roadmap—let alone a logical explanation—of the new set of Federal Reserve policy tools that were created to counter the COVID-19 recession. This study provides an overview of the motivation for these new credit-easing programs—namely to damp feedback mechanisms and channels that would otherwise amplify the downturn and impede a subsequent recovery. The study then briefly assesses the impact of the new policy tools and addresses the risks they might pose. In addition, the new credit easing tools are put into historical context through a discussion of their development as part of the Fed's evolving and expanding role in countering financial crises.Michael D. BordoJohn V. DucaElsevierarticleE58E52G12G18Economics as a scienceHB71-74ENJournal of Government and Economics, Vol 3, Iss , Pp 100013- (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	E58 E52 G12 G18 Economics as a science HB71-74
spellingShingle	E58 E52 G12 G18 Economics as a science HB71-74 Michael D. Bordo John V. Duca An overview of the Fed's new credit policy tools and their cushioning effect on the COVID-19 recession
description	The economics literature lacks articles that provide a broad roadmap—let alone a logical explanation—of the new set of Federal Reserve policy tools that were created to counter the COVID-19 recession. This study provides an overview of the motivation for these new credit-easing programs—namely to damp feedback mechanisms and channels that would otherwise amplify the downturn and impede a subsequent recovery. The study then briefly assesses the impact of the new policy tools and addresses the risks they might pose. In addition, the new credit easing tools are put into historical context through a discussion of their development as part of the Fed's evolving and expanding role in countering financial crises.
format	article
author	Michael D. Bordo John V. Duca
author_facet	Michael D. Bordo John V. Duca
author_sort	Michael D. Bordo
title	An overview of the Fed's new credit policy tools and their cushioning effect on the COVID-19 recession
title_short	An overview of the Fed's new credit policy tools and their cushioning effect on the COVID-19 recession
title_full	An overview of the Fed's new credit policy tools and their cushioning effect on the COVID-19 recession
title_fullStr	An overview of the Fed's new credit policy tools and their cushioning effect on the COVID-19 recession
title_full_unstemmed	An overview of the Fed's new credit policy tools and their cushioning effect on the COVID-19 recession
title_sort	overview of the fed's new credit policy tools and their cushioning effect on the covid-19 recession
publisher	Elsevier
publishDate	2021
url	https://doaj.org/article/20c3780d92f94d8d992fda1654af08ef
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An overview of the Fed's new credit policy tools and their cushioning effect on the COVID-19 recession

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