The Interplay of Monetary Policy and Fiscal Stimulus in Crisis Management

The Fed is facing historic challenges for two reasons. The first is the coronavirus and the task of facilitating the economic recovery. The second challenge is one that precedes the crisis, and it has to do with how the Fed operates generally as well as the limits of effective monetary policy. How can the Fed better achieve its goals? Can monetary policy spread the benefits of growth more broadly? How can it avoid snuffing out growth prematurely? On this week’s episode, we’re joined by Minneapolis Fed President Neel Kashkari, who is thinking about all of these things and more.

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