34 - The Fed's COVID-19 Plan: For the People or for the Banks? Ft. Victoria Guida

The US Federal Reserve ("the Fed") is putting out a coronavirus rescue package- but is it really going to help, or sink the economy?
The Federal Reserve, the massive, mysterious organization at the heart of the global financial system, has just issued a ton of new money and pumped it into the economy as a response to the Covid-19 crisis. The plan is to "unfreeze" the economy and prevent a lockdown which would devastate individuals and companies alike. But over the long-term, could this kind of rescue package do more harm than good?
In this fun, informative, and often mind-boggling episode, we sit down with Victoria Guida, a financial policy reporter at Politico, to hear the inside scoop on the Fed's response to the global pandemic.
We then do a deep dive into what the Fed is, attempt to wrap our minds around its confusing and fractal-like powers of money creation, examine the incentive structures involved, and hear an insider's perspective on the motivations and preoccupations of the Fed - both the institution, and the humans within it.
Finally, we weigh in with our own opinions- are the Fed's actions helping or hurting the economy, and what players may be at an advantage in this system?
Be sure to follow Victoria on Twitter @vtg2 for the latest news on the Fed and financial regulations.
For more information, check out some articles by Victoria:
https://www.politico.com/news/2020/03/24/federal-reserve-coronavirus-147342 https://www.politico.com/news/2020/03/16/big-banks-coronavirus-onslaught-132997 https://www.politico.com/news/2020/03/23/small-businesses-slammed-by-coronavirus-plead-for-quick-help-144069 https://www.politico.com/news/2020/03/15/fed-unveils-emergency-action-effort-to-support-economy-from-coronavirus-130608
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