COVID-19 represents a watershed moment for relations between the Fed, Congress, and Treasury.
Peter Conti-Brown - a legal scholar and financial historian at the University of Pennsylvania, as well as a Nonresident Fellow in Economic Studies at the Brookings Institution - returns to Macro Musings to discuss the new Fed-Treasury relationship that is emerging in the wake of the war against COVID-19. Peter and David breakdown the CARES Act, the aggressive and extensive policies recently taken by the Fed, and the implications for monetary policy moving forward.
David Beckworth: Peter, welcome back to the show.