Christopher Peters and Benoit Essiambre on the Need for Negative Rates to Speed Recovery from the Pandemic →

The blog title is a link to a nice Twitter thread.

For a while, I thought that monetary stimulus should wait until after pandemic restrictions were over. Now, I think that for a while it is good to have both forces at work: pandemic restrictions (such as on restaurants and bars) to reduce coronavirus danger, combined with monetary stimulus to make it as likely as possible that those disemployed from one sector can find work in another—now instead of later.