The new coronavirus is unfortunately deadly not only for humans but also for global economy. The central banks have shot their bazookas, but the monetary policy is helpless during pandemic with their supply disruptions and self-quarantine that effectively freezes the economic activity. Interestingly, even the central bankers seem to acknowledge their impotence. As Jerome Powell said during his recent press conference: We don’t have the tools to reach individuals and particularly small businesses and other businesses and people who may be out of work... we do think fiscal responses are critical. It didn’t take long to ... (full story)