global health emergency

health emergency

Pulling Out All The Stops To Mitigate The Most Severe Global Health Crisis In a Century

Joachim Fels (PIMCO) | The Fed just announced a comprehensive easing package: near-zero policy rates, large-scale QE in Treasuries and MBS, lower rates on fx swaps and regulatory relief for banks. This is a close as it gets to “whatever it takes”. Still, a global recession seems to be a foregone conclusion. First and foremost, this will require a very large fiscal response to support individuals and businesses adversely affected by the crisis.