Posts Tagged ‘coronavirus’

Exceptional economic and financial crises often demand exceptional remedies.  It was in this spirit that many governments, fearing another Great Depression, intervened heavily in their economies during the 2007-2009 financial crisis.  While the adopted fiscal actions, involving both government expenditures and tax cuts, were quite substantial, they were nevertheless easily eclipsed by the massive levels of central bank monetary interventions.  In the United States, for example, the level of…