Yale School of Management

Posts by Fiscal

Monetization of Fiscal Deficits and COVID-19 - A Primer

August 31, 2020
YPFS
Governments around the world have introduced huge stimulus programs to combat the economic damage caused by COVID-19. These programs allocate billions of dollars in direct payments, tax breaks, business subsidies, and other relief. The size and scale of these programs have caused many governments to run much higher budget deficits than normal. But how are they going to finance these deficits? One way, which some consider anathema to the price-stability mandate of a central bank, has been thrust back into the spotlight as the crisis rages on: sovereign debt monetization. Continue reading “Monetization of Fiscal Deficits and COVID-19 - A Primer”

President Trump Takes Executive Action as Further Stimulus Bill Talks Stall

August 24, 2020
On August 8 President Donald Trump issued guidance aimed at providing additional economic relief to millions of Americans as the COVID-19 crisis continues. This relief - in the form of one executive order and three presidential memoranda - came after talks between Congressional Republicans and Democrats on a new relief bill broke down the day before.  Continue reading “President Trump Takes Executive Action as Further Stimulus Bill Talks Stall”