Three Fed Takeaways from an Extraordinary Year

2020 was an extraordinary year for the Federal Reserve (Fed). The Fed responded swiftly and decisively to the rapidly accelerating financial and economic uncertainty brought on by efforts to contain the COVID-19 pandemic. The current Fed was helped by precedents and policies created during the 2008-09 recession, but also went beyond them to address the specific economic needs of the current crisis. We are not on the other side of that crisis yet, although we’re certainly getting closer, but there’s at least enough perspective to look back at what we learned about the Fed and markets in 2020 as we head into 2021

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