TheBlock
2020-08-25 23:39:44

Cloudy with a Chance of RIBs, Part 2

Quick TakeIn our previous column ‘Cloudy with a Chance of RIBs, Part 1’ we noted that once unconventional monetary policies and gargantuan fiscal deficits are now standard counter measures to economic downturns, prompting the question: how will officials respond to further distress in the future? This article examines a recent Peterson Institute for International Economics (PIIE) proposal for a novel monetary tool, recession insurance bonds (RIBs), and its relationship to a Federal Reserve–backed digital currency.

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