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…

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