https://www.federalreserve.gov/publications/files/financial-stability-report-20200515.pdf
- Financial asset prices are vulnerable significant decline
- Business debt was high before the pandemic
- Many households can no longer support their level of debt due to pandemic
- There is elevated prospect of losses at financial institutions – especially hedge funds
- Federal Reserve response has been unprecedented in its speed and forcefulness
[Needless to say, there are critics who say this assessment is overly optimistic.]
Charlie Cooper
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