Journal Article
The Last Resort in a Changing Landscape
Abstract: As lender of last resort, the Federal Reserve plays a vital role in maintaining a sound and stable financial system. But the frequency and scale of Fed interventions following disruptions like the Global Financial Crisis and COVID-19 are concerning. As the country emerges from the pandemic, it’s time to focus on crafting more resilient policies, particularly by addressing Treasury market vulnerabilities and providing greater prudential oversight.
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https://www.frbsf.org/economic-research/files/el2021-12.pdf
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Bibliographic Information
Provider: Federal Reserve Bank of San Francisco
Part of Series: FRBSF Economic Letter
Publication Date: 2021-05-03
Volume: 2021
Issue: 12
Pages: 01-07
Note: The following is adapted from remarks by the president of the Federal Reserve Bank of San Francisco to the Money Marketeers on April 15.