Support for free trade seems to be waning, even though history has shown that globalization has produced large benefits for most parts of the world. How far—if at all—should policymakers go to appease those who hold a different view?
If such a pandemic were to be anything like the Spanish Flu of the early 20th century, expect not only tens of millions of deaths worldwide but also a blow to the world economy in the hundreds of billions of dollars. See “Headlines from 1918,” too.
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Fed in Print: An index of the economic research conducted by the Fed.