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Keywords: lender of last resort
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Journal Articles
Global Perspectives (2021) 2 (1): 24188.
Published: 20 May 2021
... markets. The overall effect has been the blurring of the boundary between monetary and fiscal policy, a key pillar of the “neoliberal” era. Furthermore, the Fed acted as a de facto lender of last resort in dollars of the global financial system, thus playing a global stabilization role even as the Trump...