White House Seeks Financial Crisis-Era Powers to Buttress Economy

“In 2008 the problem was that major financial firms were facing runs,” he said, and therefore needed cash. “In this situation, the nonfinancial corporates are where the problem is — that is, think about an airline or a restaurant” that is unable to make payroll. When it comes to preventing such disruptions, Mr. Bernanke said, […]

Economic Powers Vow to Fight Crisis, but Not Yet

Central bankers and political leaders of the United States and other economic powers on Tuesday expressed their resolve to combat economic damage from the coronavirus, but stopped short of promising interest rate cuts or other immediate rescue measures.The joint...