WASHINGTON (AP) — In its boldest effort to protect the U.S. economy from the coronavirus, the Federal Reserve says it will buy as much government debt as it deems necessary and will also begin lending to small and large businesses and local governments to help them weather the crisis.
The Fed’s new go-for-broke approach << aptly named
Why doesn’t Donnie contribute some of his bigly billions?
It “ain’t” helping my economy and millions of other sit-at-home workers.
Let’s recognize that the Trump administration is now dead for all intents and purposes, and the work of rescuing the country is being carried out by caretakers.
We are now in Day One of rebuilding our country on a more sustainable, humane level. Let’s imagine the country we want to be and take the steps to make that happen.
Never let a crisis go to waste.
Can the Fed do anything directly for sit-at-home workers?
It would be far cheaper to spend that money on tests in order to begin getting this virus under control than to spend $trillions on the stimulous and hospital costs after the entire country comes down with this virus!
Can they- or Will they…is the question.
Only if they incorporate and sell stock.
“The Donald” will know what to do when our country has to declare we are bankrupt.
The saddest thing about all of this is-
Wait, no, one of the saddest things-
Hmm. Among the shitstorm of sad things about all of this is the fact that a significant portion of our political leadership* will learn absolutely nothing about how to manage the fiscal and monetary levers during booms and busts. We* could have been building a buffer to the inevitable shock (epidemic or otherwise) that the economy was going to take, but instead we* cut taxes and reduced interest rates.
*Replace with “Republican assholes” for the Director’s Cut of this post.
Buying government debt allows the government to spend what is necessary to test everyone.
No country that controls its own currency and its own debt can be bankrupt.
Thank you! You do seem to get it.
The Fed is doing what Trump refuses to do—it’s being proactive instead of reactive.
Honestly, I don’t think he even understands the meaning of proactive and reactive. Shite, it’s only Monday morning and I’ve already had the thought that we’re doomed. (I know I’ll get over this momentary flight of reason but, for sure, it’s going to get much, much worse.)
The Fed can’t really do Fiscal ploicy
That is the governments job.
The fed’s main tools are monetary policy executed by Open Market Operations
The little guy must be helped but I doubt the republican controlled senate care a jot for the little guy.
That being said No body and I mean No body will benefit if the banks collapse.
The fed is trying to do their job. The Republicans who could help if they chose to are MIA.
Would that some of the fiscal competents in government announce that the billions$$ in wall money be used for test kits, PPE, and front-line services for the immediate crisis. The wall was a supposed crisis; this is a bigger crisis Use the wall money to help state and local governments.
I’m old enough to remember how the Party of NO = GOP in 2008 did NOT support the House ARRA bill (246-183 vote—with no support from GOP) and 38 voted NO in the Senate!
What a contrast to the GOP proposed 2020 Covid-19 massive approx. $2 Trillion economic stimulus package aimed mainly for corporate bailouts with $500 Billion undisclosed slush fund for Mnuchin to dole out!
Addendum:
Meanwhile…
