From WSJopinion: Addressing the economic shutdown will take more vigorous leadership and explanation than we’ve seen so far from the Fed, the Treasury, the White House or Congress
Well, that didn’t work. The Federal Reserve on Sunday went all in with its 2008 bag of monetary tricks, and financial markets continued their stampede like frightened cattle. Someone has to turn the herd, and that will take new tools and better leadership than Washington is now providing.
Start with the political and health context, which is that state and federal leaders are shutting down the American economy without a plan to finance it while everyone stays home. This is prudent as a health measure to “flatten the curve”...
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