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The Fed's COVID-19 Plan: For the People or for the Banks? Ft. Victoria Guida - Ep. XXXIV

Multiversity ProjectMar 31, 2020, 6:12:41 PM
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The US Federal Reserve ("the Fed") is putting out a coronavirus rescue package- but is it really going to help, or sink the economy?

The Federal Reserve, the massive, mysterious organization at the heart of the global financial system, has just issued a ton of new money and pumped it into the economy as a response to the Covid-19 crisis. The plan is to "unfreeze" the economy and prevent a lockdown which would devastate individuals and companies alike. But over the long-term, could this kind of rescue package do more harm than good?

In this fun, informative, and often mind-boggling episode, we sit down with Victoria Guida, a financial policy reporter at Politico, to hear the inside scoop on the Fed's response to the global pandemic.

We then do a deep dive into what the Fed is, attempt to wrap our minds around its confusing and fractal-like powers of money creation, examine the incentive structures involved, and hear an insider's perspective on the motivations and preoccupations of the Fed - both the institution, and the humans within it.

Finally, we weigh in with our own opinions- are the Fed's actions helping or hurting the economy, and what players may be at an advantage in this system?

Be sure to follow Victoria on Twitter @vtg2 for the latest news on the Fed and financial regulations.

For more information, check out some articles by Victoria:

https://www.politico.com/news/2020/03/24/federal-reserve-coronavirus-147342

https://www.politico.com/news/2020/03/16/big-banks-coronavirus-onslaught-132997

https://www.politico.com/news/2020/03/23/small-businesses-slammed-by-coronavirus-plead-for-quick-help-144069

https://www.politico.com/news/2020/03/15/fed-unveils-emergency-action-effort-to-support-economy-from-coronavirus-130608

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