La politique monétaire de la Fed face à la crise de la covid-19 : entre continuité et rupture
This paper analyzes the measures taken by the Fed to deal with the covid-19 crisis. To explain the Fed’s interventions, we put them in their context by considering the problems it sought to solve. The Fed started by lowering its target rate to bring it back to the zero lower bound. In mid-March, sev...
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| Format: | Article |
| Language: | English |
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Association Recherche & Régulation
2021-05-01
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| Series: | Revue de la Régulation |
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| Online Access: | https://journals.openedition.org/regulation/18508 |
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| author | Rudy Bouguelli |
| author_facet | Rudy Bouguelli |
| author_sort | Rudy Bouguelli |
| collection | DOAJ |
| description | This paper analyzes the measures taken by the Fed to deal with the covid-19 crisis. To explain the Fed’s interventions, we put them in their context by considering the problems it sought to solve. The Fed started by lowering its target rate to bring it back to the zero lower bound. In mid-March, several crucial markets became dysfunctional. Consequently, the Fed resumed its large-scale asset purchase programs and restored several credit and liquidity facilities introduced in 2008. It then expanded the scope of its interventions by creating new facilities. These measures prevented a collapse of the U.S. financial system. But they are likely to intensify the challenge faced by central banks concerning their role. |
| format | Article |
| id | doaj-art-37adff2455914718873333d1fde33ba3 |
| institution | Kabale University |
| issn | 1957-7796 |
| language | English |
| publishDate | 2021-05-01 |
| publisher | Association Recherche & Régulation |
| record_format | Article |
| series | Revue de la Régulation |
| spelling | doaj-art-37adff2455914718873333d1fde33ba32025-01-30T14:25:59ZengAssociation Recherche & RégulationRevue de la Régulation1957-77962021-05-012910.4000/regulation.18508La politique monétaire de la Fed face à la crise de la covid-19 : entre continuité et ruptureRudy BouguelliThis paper analyzes the measures taken by the Fed to deal with the covid-19 crisis. To explain the Fed’s interventions, we put them in their context by considering the problems it sought to solve. The Fed started by lowering its target rate to bring it back to the zero lower bound. In mid-March, several crucial markets became dysfunctional. Consequently, the Fed resumed its large-scale asset purchase programs and restored several credit and liquidity facilities introduced in 2008. It then expanded the scope of its interventions by creating new facilities. These measures prevented a collapse of the U.S. financial system. But they are likely to intensify the challenge faced by central banks concerning their role.https://journals.openedition.org/regulation/18508crisismonetary policycovid-19Fed |
| spellingShingle | Rudy Bouguelli La politique monétaire de la Fed face à la crise de la covid-19 : entre continuité et rupture Revue de la Régulation crisis monetary policy covid-19 Fed |
| title | La politique monétaire de la Fed face à la crise de la covid-19 : entre continuité et rupture |
| title_full | La politique monétaire de la Fed face à la crise de la covid-19 : entre continuité et rupture |
| title_fullStr | La politique monétaire de la Fed face à la crise de la covid-19 : entre continuité et rupture |
| title_full_unstemmed | La politique monétaire de la Fed face à la crise de la covid-19 : entre continuité et rupture |
| title_short | La politique monétaire de la Fed face à la crise de la covid-19 : entre continuité et rupture |
| title_sort | la politique monetaire de la fed face a la crise de la covid 19 entre continuite et rupture |
| topic | crisis monetary policy covid-19 Fed |
| url | https://journals.openedition.org/regulation/18508 |
| work_keys_str_mv | AT rudybouguelli lapolitiquemonetairedelafedfacealacrisedelacovid19entrecontinuiteetrupture |