Ben Bernanke, a distinguished fellow in residence at the Brookings Institution and former chair of the Federal Reserve, describes the response to COVID-19 as a two-step process. According to Bernanke, “It's not really time yet to stimulate spending and get people to go out and buy cars and houses. That will have to wait till the health situation is better. At that point monetary policy will begin to perform its normal function.”
This is a short segment of a recent webinar hosted by the Brookings Institution. Watch the full event here:
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