
COVID-19 and the Magnificent Money Tree
July 2020
This month’s feature article explores why the COVID-19 pandemic may be the catalyst for dramatic changes to the economic policy framework employed by governments and central banks. We highlight the aspects of the recent fiscal and monetary policy response to COVID-19 that make Modern Monetary Theory seem an increasingly conceivable (or perhaps, inevitable) economic policy framework going forward. This month’s article is the first in a series of two on the topic of MMT, with next month’s article focused on the implications for asset markets and investment strategy that a shift in the economic policy framework may have.
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