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Keith Noreika Quoted in American Banker on Fed's COVID-19 Response
12.28.20
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Partner Keith Noreika was quoted in an article by American Banker titled, “Fed won praise for 2020 crisis response, but will its hands be tied in '21?” The article examined the Federal Reserve’s response to the COVID-19 pandemic, including slashing interest rates, reducing reserve requirements to 0%, purchasing Treasury securities and mortgage-backed securities, and creating five emergency lending facilities. When discussing how the Fed’s response helped curb the damage to the U.S. economy, Keith said, “The American economy was definitely cruising along, 100 miles an hour on the interstate, and then hit a wall, and the car got totally obliterated, and the Fed, Congress and the administration acted as the airbag. They did a masterful job, I think, of deploying that cushion.”
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