Confucius: the man who broke the mountain was the same man who started ...
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With end of crisis programs, Fed faces tricky post-pandemic transition
The possible arrival of a coronavirus vaccine in the coming weeks means the Federal Reserve may soon have to lay out its plans for helping the economy navigate the potentially choppy transition to a post-pandemic world.Even on its own, Mnuchin’s decision to let several Fed emergency programs expire next month “will tighten financial conditions ... at the wrong moment,” said Krishna Guha, vice president of Evercore ISI. “One side-effect is that it increases the likelihood that the (Federal Open Market Committee) will strengthen QE in December,” he said, referring to the Fed’s policy-setting committee. QE ... (full story)