Jeremy Stein on the Fed-Treasury Credit Programs
Featuring
|Jeremy Stein, the Moise Y. Safra Professor of Economics and Chairman of the Department of Economics at Harvard University, discusses the COVID-19 credit programs recently implemented by the Federal Reserve and the US Treasury.
Recording Time Stamps
(01:58) What does the Fed do and what are the current lending programs?
(09:29) Lender of last resort: how the Fed helped solvent companies in 2008-2009
(17:54) How has COVID affected businesses differently from 2008-2009?
(25:35) Venture capitalists of last resort: how the Fed can structure financial support during uncertain times
(30:35) Primary Market Credit and Main Street programs explained
(39:05) Pitfalls in the current lending structures and possible modifications
(48:37) Does less discriminate lending lead to inflation?
(54:13) The difficulty of models in an uncertain time and what the market is telling us