a) The central bank is the lender of the last resort in any
country. Why did Fed chairman Jerome Powell said “This is the time
to use the great fiscal power of the United States to do what we
can do to support the economy and try to get through this with as
little damage to the longer-run productive capacity of the economy
as possible’ on April 29, 2020 ? ( WSJ, April 29, 2020)
Use the IS, LM curve...