William R. Emmons, Timothy J. Yeager
The futures market is not a perfect crystal ball. In some cases, it accurately forecasts what spot prices will be in the future. But not always.
To protect the economy in the short run, the Fed acted quickly on five fronts to provide emergency liquidity. But in the long run, no major change in monetary policy should be needed because the fundamentals of the economy remain solid.
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Fed in Print: An index of the economic research conducted by the Fed.