Publication Type

News Article

Version

acceptedVersion

Publication Date

6-2020

Abstract

In light of the Covid-19 pandemic, the Federal Open Market Committee (FOMC), while taking more aggressive actions, seems to have stuck more or less to the standard playbook of responding to “unusual and exigent circumstances”. This essentially calls for slashing conventional policy rates to their effective lower bound, accompanied by forward guidance, embarking on asset purchases, rolling out emergency liquidity facilities and experimenting with lending programmes. But policymakers, with the required US Treasury backstop, have also introduced more creative programmes to encourage credit extension and reached into different market segments.

Keywords

Federal Reserve, monetary policy, fiscal policy, United States

Discipline

Economic Policy | Finance and Financial Management

Publication

Business Times (Singapore)

First Page

19

Last Page

19

ISSN

1733-8179

Publisher

Singapore Press Holdings

Embargo Period

9-19-2021

Copyright Owner and License

Authors

Additional URL

https://www.businesstimes.com.sg/opinion/fomc-playbook-the-only-new-game-in-town

Download

Share

COinS