Federal Reserve Now Central Bank to the World

Fed supplies cash to a global economy dependent upon dollar liquidity

The seal of the Board of Governors of the U.S. Federal Reserve System lies embedded in the floor at the Marriner S. Eccles Federal Reserve Board Building in Washington on Feb. 5, 2018. Andrew Harnik/File via AP

Commentary

As the CCP virus pandemic brings business activity to a halt across much of the world, foreign central banks are facing cash shortages.