The March 2020 episode of market turmoil and lessons for future financial stability
The sudden realization of the possible economic impact of COVID-19 in mid-March led to what the Bank of England in a recent report called “an abrupt and extreme dash for cash.” In this episode of Financial Statements, participants discussed the implications of this brief but intense episode in terms of how to think about financial market functioning and vulnerabilities to future shocks.
Nicolas Véron, Senior Fellow, Peterson Institute for International Economics (PIIE)
• Anil Kashyap, University of Chicago Booth School of Business, member of the Bank of England’s Financial Policy Committee
• Peter Fisher, PIIE Board Member and Tuck School of Business at Dartmouth