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The Federal Reserve Is Changing What It Means to Be a Central Bank
Wall Street Jurnal, Apr. 27, 2020–Nick Timiraos, Jon Hilsenrath (subscription)
The Federal Reserve is redefining central banking. By lending widely to businesses, states and cities in its effort to insulate the U.S. economy from the coronavirus pandemic, it is breaking century-old taboos about who gets money from the central bank in a crisis, on what terms, and what risks it will take about getting that money back.
https://www.wsj.com/articles/fate-and-history-the-fed-tosses-the-rules-to-fight-coronavirus-downturn-11587999986?mod=hp_lead_pos6