The Last Resort in a Changing Landscape

Mary Daly

FRBSF Economic Letter, 2021, vol. 2021, issue 12, 01-07

Abstract: As lender of last resort, the Federal Reserve plays a vital role in maintaining a sound and stable financial system. But the frequency and scale of Fed interventions following disruptions like the Global Financial Crisis and COVID-19 are concerning. As the country emerges from the pandemic, it’s time to focus on crafting more resilient policies, particularly by addressing Treasury market vulnerabilities and providing greater prudential oversight.

Keywords: COVID-19; financial infrastructure; resiliency (search for similar items in EconPapers)
Date: 2021
Note: The following is adapted from remarks by the president of the Federal Reserve Bank of San Francisco to the Money Marketeers on April 15.
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.frbsf.org/economic-research/files/el2021-12.pdf Full text – article PDF (application/pdf)

Related works:
Working Paper: The Last Resort in a Changing Landscape (2021)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fip:fedfel:91337

Ordering information: This journal article can be ordered from

Access Statistics for this article

More articles in FRBSF Economic Letter from Federal Reserve Bank of San Francisco Contact information at EDIRC.
Bibliographic data for series maintained by Federal Reserve Bank of San Francisco Research Library ().