Key Focus

  • If it ever is, she says, "I think the Fed is going to win out on that."
    'This is why the Federal Reserve was invented,'says former Fed Chairwoman Janet Yellen, 'to do emergency lending in a crisis.'
    Whether the economy stabilizes depends on many forces out of the Fed's control, including whether the coronavirus's spread slows, whether other authorities put in place testing and monitoring programs to tame it, and whether treatments and vaccines are discovered.
    The Fed said Monday it would expand a forthcoming program to provide financing to state and local governments squeezed by declining tax revenue
  • It also entered the crisis outside a partisan fray marked by distrust between congressional Democrats and the Trump administration, lawmakers and analysts say.
    Rapid Response
    Fed asset holdings have grown more sharply than during past quantitative-easing, or QE, periods, in which the Fed bought nearly $4 trillion in securities* to stimulate the U.S. economy
    Change in holdings since the start of each program
    *Treasurys, mortgage-backed securities and Fannie Mae and Freddie Mac debt
    Source: Federal Reserve Bank of St. Powell's measured response to President Trump's relentless attacks on him over the past two years have dispelled concerns among lawmakers that the central-bank chief would be a footman for the president or his re-election.
    "The Fed is not naturally suited to do this," says Douglas Holtz-Eakin, a Republican former director of the Congressional Budget Office, "but the Treasury is using the Fed as its arm because the Fed is better at setting up these facilities and getting the money out."
    Fed officials will hold a remote gathering Tuesday and Wednesday this week
  • She and former Fed Chairman Ben Bernanke say the Fed's independence would be more seriously imperiled if it didn't act boldly to protect the economy.
    "This is why the Federal Reserve was invented," says Ms. Yellen, "to do emergency lending in a crisis."
  • In that range, the portfolio would be twice the size reached after the 2007-09 financial crisis and nearly half the value of U.S. annual economic output.
    It would make its role in the economy far greater than during the Great Depression or World War II, according to Wall Street Journal calculations


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High Level Topics

  • FED
  • CRISIS
  • ECONOMY
  • DEBT
  • High Level Abstractions

  • FED(19, 0 Order)
  • ( FED )(19, 0 Order)  top
  • ( FED, CRISIS )(9, 1st Order)  top
  • ( FED, CRISIS, ECONOMY )(4, 2nd Order)  top
  • ( FED, CRISIS, PRIVATE-EQUITY )(1, 2nd Order)  top
  • ( FED, CRISIS, MARKETS )(1, 2nd Order)  top
  • ( FED, CRISIS, LAWMAKERS )(1, 2nd Order)  top
  • ( FED, CRISIS, HOLDINGS )(1, 2nd Order)  top
  • ( FED, CRISIS, FEDERAL_RESERVE )(2, 2nd Order)  top
  • ( FED, CRISIS, DEBT )(3, 2nd Order)  top
  • ( FED, CRISIS, CLOS )(1, 2nd Order)  top
  • ( FED, CRISIS, BONDS )(1, 2nd Order)  top
  • ( FED, CRISIS, WIDE-SCALE )(1, 2nd Order)  top
  • ( FED, CRISIS, VACCINES )(1, 2nd Order)  top
  • ( FED, CONGRESS )(4, 1st Order)  top
  • ( FED, MARKETS )(3, 1st Order)  top
  • ( FED, ECONOMY )(5, 1st Order)  top
  • ( FED, ECONOMY, LAWMAKERS )(1, 2nd Order)  top
  • ( FED, ECONOMY, HOLDINGS )(1, 2nd Order)  top
  • ( FED, ECONOMY, FEDERAL_RESERVE )(2, 2nd Order)  top
  • ( FED, ECONOMY, VACCINES )(1, 2nd Order)  top
  • ( FED, ECONOMY, TRUMP )(1, 2nd Order)  top
  • ( FED, ECONOMY, STABILIZES )(1, 2nd Order)  top
  • ( FED, ECONOMY, REVENUE )(1, 2nd Order)  top
  • ( FED, ECONOMY, REPUBLICAN )(1, 2nd Order)  top
  • ( FED, ECONOMY, RE-ELECTION )(1, 2nd Order)  top
  • ( FED, ECONOMY, QUANTITATIVE-EASING )(1, 2nd Order)  top
  • ( FED, DEBT )(4, 1st Order)  top
  • ( FED, WORLD_WAR_II )(3, 1st Order)  top
  • ( FED, RISK )(2, 1st Order)  top
  • ( FED, RESCUES )(2, 1st Order)  top
  • ( FED, PRIVATE-EQUITY )(1, 1st Order)  top
  • ( FED, POWELL )(2, 1st Order)  top
  • ( FED, POLITICAL )(2, 1st Order)  top
  • ( FED, POLICY )(2, 1st Order)  top
  • CRISIS(10, 0 Order)
  • ( CRISIS )(10, 0 Order)  top
  • ( CRISIS, MARKETS )(3, 1st Order)  top
  • ( CRISIS, PRIVATE-EQUITY )(1, 1st Order)  top
  • ( CRISIS, LOSS )(2, 1st Order)  top
  • ( CRISIS, INVESTMENT )(3, 1st Order)  top
  • ( CRISIS, FEDERAL_RESERVE )(3, 1st Order)  top
  • ( CRISIS, ECONOMY )(5, 1st Order)  top
  • ( CRISIS, ECONOMY, LAWMAKERS )(1, 2nd Order)  top
  • ( CRISIS, ECONOMY, HOLDINGS )(1, 2nd Order)  top
  • ( CRISIS, ECONOMY, FEDERAL_RESERVE )(3, 2nd Order)  top
  • ( CRISIS, ECONOMY, VACCINES )(1, 2nd Order)  top
  • ( CRISIS, ECONOMY, TRUMP )(1, 2nd Order)  top
  • ( CRISIS, ECONOMY, STABILIZES )(1, 2nd Order)  top
  • ( CRISIS, ECONOMY, REVENUE )(1, 2nd Order)  top
  • ( CRISIS, ECONOMY, REPUBLICAN )(1, 2nd Order)  top
  • ( CRISIS, ECONOMY, RE-ELECTION )(1, 2nd Order)  top
  • ( CRISIS, ECONOMY, QUANTITATIVE-EASING )(1, 2nd Order)  top
  • ( CRISIS, ECONOMIC-RESCUE )(1, 1st Order)  top
  • ( CRISIS, DEBT )(4, 1st Order)  top
  • ( CRISIS, CLOS )(1, 1st Order)  top
  • ( CRISIS, BONDS )(3, 1st Order)  top
  • ( CRISIS, BANKRUPTCY )(3, 1st Order)  top
  • ECONOMY(7, 0 Order)
  • ( ECONOMY )(7, 0 Order)  top
  • ( ECONOMY, LAWMAKERS )(1, 1st Order)  top
  • ( ECONOMY, HOLDINGS )(1, 1st Order)  top
  • ( ECONOMY, FEDERAL_RESERVE )(3, 1st Order)  top
  • ( ECONOMY, VACCINES )(1, 1st Order)  top
  • ( ECONOMY, TRUMP )(1, 1st Order)  top
  • ( ECONOMY, STABILIZES )(1, 1st Order)  top
  • ( ECONOMY, REVENUE )(1, 1st Order)  top
  • ( ECONOMY, REPUBLICAN )(1, 1st Order)  top
  • ( ECONOMY, RE-ELECTION )(1, 1st Order)  top
  • ( ECONOMY, QUANTITATIVE-EASING )(1, 1st Order)  top
  • DEBT(6, 0 Order)
  • ( DEBT )(6, 0 Order)  top
  • ( DEBT, PRIVATE-EQUITY )(1, 1st Order)  top
  • ( DEBT, MARKETS )(1, 1st Order)  top
  • ( DEBT, LAWMAKERS )(1, 1st Order)  top
  • ( DEBT, HOLDINGS )(1, 1st Order)  top
  • ( DEBT, CLOS )(1, 1st Order)  top
  • ( DEBT, BONDS )(1, 1st Order)  top
  • ( DEBT, WIDE-SCALE )(1, 1st Order)  top
  • ( DEBT, UNEMPLOYMENT )(1, 1st Order)  top
  • ( DEBT, TRUMP )(1, 1st Order)  top
  • ( DEBT, RESCUES )(1, 1st Order)  top
  • References