The Federal Reserve faces the challenge of preventing an intensifying health crisis from morphing into a full-blown financial crisis. So it's dusting off a playbook it surely hoped it wouldn't need again: the steps it took as the Great Recession took hold.
New York The Federal Reserve is facing a monumental challenge: It must prevent the rapidly intensifying health crisis from morphing into a full-blown financial crisis.
To meet that threat, the Fed is dusting off a playbook it surely hoped it wouldn't need to turn to again, at least not so soon: the steps it took as the Great Recession took hold. $1 trillion deficits and near-zero rates.
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