Article contentThe following is adapted from the opening remarks made by Nomi Prins and Douglas Holtz-Eakin in a Munk Debates podcast. The resolution debated: the COVID-19 bailout of financial markets and big business will end up hurting, not helping, the economic recovery. Even before the COVID-19 crisis, the global economy was starting to falter. Try refreshing your browser, or Munk Debates — Nomi Prins: Don't let big businesses take advantage of the COVID-19 crisis Back to videoIn late 2019, the U.S. Federal Reserve stepped in with another phase of balance sheet growth using REPO operations, a form of short-term lending between big banks and their big corporate clients. The result was an inflation of the Federal Reserve balance sheet to $4.1 trillion by the end of 2019.

Source: National Post August 06, 2020 14:56 UTC