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Journal Article
Monetary Policy and Fiscal Policy Responses to the COVID-19 Crisis
St. Louis Fed President James Bullard says the monetary and fiscal policies instituted early in the pandemic have been effective, and the U.S. economy has responded well.
Report
Measuring Global Financial Market Stresses
We propose measures of financial market stress for forty-six countries and regions across the world. Our measures indicate that worldwide financial market stresses rose significantly in March following the widespread economic shutdowns in the wake of the COVID-19 pandemic. However, hardly anywhere in the world did these March peaks in financial stresses reach those seen during the trough of the 2007-09 Global Financial Crisis. Since March, financial market conditions normalized rapidly with financial market stresses around average levels. We also show that our financial stress measures ...