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Financial Times/James Politi and Chris Giles/8-25-2020
“Having rushed to engineer a massive policy response to the initial virus shock which briefly threatened to unleash a financial crisis, the world’s leading central banks face the next economic phase of the pandemic with a dwindling arsenal of monetary weapons and rising frustration that some key drivers of the recovery — both health and fiscal — are beyond their control.”
USAGOLD note: A solid overview leading up to this week’s Jackson Hole central bank conclave and Fed Chairman Powell’s much-anticipated speech on Thursday. This year the conference will be held virtually for the first time because of the pandemic.