When Every Company Tries to be a Bank
Plus! Singapore, College, Trade Finance, Alt-Data Fraud, Zoom, more...
A few weeks ago, I argued that the Fed’s comparatively fast response to Covid-19 was because of its relative independence, not because a central bank is uniquely suited to solving epidemics, or their immediate consequences.
There is a good argument, though, that monetary rather than fiscal policy will be increasingly important to solving economic downtu…