Journal Article

Opinion: Unwinding Pandemic Monetary Policy

Abstract: When COVID-19 hit, it put consumers and businesses in unprecedented difficulty. People could not work easily, and service-oriented businesses (think hotels and restaurants) lost demand for their services. At the same time, people spending increased time at home — including working from it if they could — demanded more goods (think furniture and remodeling). In a nutshell, the economy was reacting both sensibly and sharply to the new reality.

Keywords: pandemic; economy; monetary policy; inflation;

Bibliographic Information

Provider: Federal Reserve Bank of Richmond

Part of Series: Econ Focus

Publication Date: 2022

Issue: 2Q

Pages: 36