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Policy Responses to Modern Economic Crises
Murphy, DanielCase DARDEN-GEM-0182-EEconomicsIn March 2020, Jay Powell, Federal Reserve (Fed) chairperson, faced a daunting prospect that only a few months prior seemed like a remote possibility: massive expansion of the Fed’s balance sheet. Over the past five years, the economy had experienced steady economic growth, permitting the Fed to reduce its balance sheet. The Fed’s economists expected the trend to continue. But the rapidly spreading global coronavirus pandemic (known as COVID-19)...Starting at €8.20