Fed Stands Ready to Replace Infected Greenbacks With Clean Bills
The Fed doesn’t plan to destroy banknotes as China did, but it has a stockpile of fresh greenbacks should it need to replace what’s in circulation.
Seismic shifts might be in the offing for the global monetary system — a phenomenon that historically has occurred in the wake of world wars.
How would a bitcoin economy react to coronavirus? For now, we don’t know. However, we can turn to a proxy for insight: gold.
U.S. currency in circulation has experienced its largest increase in over 20 years.
Drastic measures are being taken by the Federal Reserve as Wall Street reels from fresh predictions of a steep drop-off in economic output due to coronavirus-related lockdowns, business disruptions and job losses.
The Federal Reserve has announced a quantitative easing package with no upper limit to support the U.S. economy amid the coronavirus crisis.