"It is perhaps politically impossible not to bail out everything, but we simply struggle to fully grasp the potential scope for moral hazard issues growing on the balance sheet of the Fed; that is probably a question for another quarter, though. Right now, capital owners seem happy with the strategy. We have our doubts whether they will be as happy in 2-3 years from now."Although, with regard to the last sentence, I'm thinking sooner...
Wednesday, April 15, 2020
Quote of the Day
FX Weekly in their article The Flipside of Oprahnomics echoed the concerns I laid out in this morning's Weekly Message:
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