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PBS Frontline did an episode on the Fed & the COVID response. called The Power of the Fed (link & video below).
For anyone unfamiliar, PBS (Public Broadcasting System) Frontline is a series of documentaries that go back since before I was born, covering a range of topics from geopolitics/politics & elections US & international, to drug cartels and gangs to war - whatever subject matter is impacting societyâs course. Which includes doing episodes on the various financial crises through the years, but not often- I think the EU debt crisis / US debt ceiling in â13 mightve been the last time and that was more so political / fiscal vs markets focused. The Fed has obviously been covered in these, from â08 crisis but also from the â90s globalization which included the Greenspan Fed & LTCM/Asia currency crisis.
I think this is the first one centered on the Fed itself being the main story rather than the Fed as a major âcharacterâ and its impact and consequences of actions (buying junk bonds & credit markets, retail trading, crypto rise etc) - âliquidity pumped into the systemâ type things.
The reason Iâm flagging this (which just aired a week or 2 ago) as something important to watch isnât because we as RV subscribers donât already know about the Fed and what itâs been doing to backstop markets since last year, obviously, nor am I saying itâs âgood/badâ (I personally happen to think its not bad at all).
Itâs important because... (More)
