Public and Private Debt after the Pandemic and Policy Normalization
Abstract: As a result of the COVID-19 pandemic, public debt has increased dramatically and private debt seems likely to increase as well. High indebtedness could influence the effectiveness of monetary policy and lead to political pressure for the Federal Reserve to maintain low interest rates for an extended period of time.
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Provider: Federal Reserve Bank of Richmond
Part of Series: Richmond Fed Economic Brief
Publication Date: 2020-05