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To infinity and beyond

Felix Salmon  |  April 7, 2021

By Felix Salmon, includes “…The coronavirus crisis has made abundantly clear the awesome power of central banks in general and of the Fed in particular. … The downside to the Fed's intervention: Businesses are mostly owned by the rich, who got richer even as total employment plunged during the crisis. There is moral hazard involved in bailing out risk-takers rather than forcing them to suffer losses. And stocks are now so expensive that the Fed risks having to fight yet another crisis should the current bubble burst chaotically.”

Read the full article on: Axios

 
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