August 4, 2020, 7:23PM EDT
• 3 min read

Cloudy with a Chance of RIBs, Part 1

Quick Take

  • 2020 has been a year of perpetual overcast, many thanks to the economic havoc caused by Covid-19. 
  • Fiscal and monetary responses by the United States Department of the Treasury and the Federal Reserve have been swift and deep. Part 1 of this column reviews some of their actions. 
  • With once unconventional policies now the new normal, how will officials respond to further distress in the future?
  • This column sets the stage for Part 2, where we will examine a recent Peterson Institute for International Economics (PIIE) proposal for recession insurance bonds (RIBs) and a Federal Reserve–backed digital currency. 

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