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Good News and Bad News about Newly Imagined Federal Reserve Credit-Allocation Policies

Author

Listed:
  • Edward J. Kane

    (Boston College)

Abstract

This paper analyzes the characteristics of the ad hoc credit facilities provided by the Federal Reserve System, newly authorized by the CARES Act of 2020, and expresses concerns about those programs' effectiveness. The paper stresses the importance of resolving unaddressed re-contracting problems in the real-estate sector.

Suggested Citation

  • Edward J. Kane, 2020. "Good News and Bad News about Newly Imagined Federal Reserve Credit-Allocation Policies," Boston College Working Papers in Economics 1012, Boston College Department of Economics.
    • Handle: RePEc:boc:bocoec:1012
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    More about this item

    Keywords

    Covid-19; Federal Reserve; credit allocation; monetary policy;
    All these keywords.

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • E65 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Studies of Particular Policy Episodes

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