Non-Financial Firms Borrowing Surged During COVID-19 Shock

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Years from now, when the business cycle has changed, and economic growth picks up consistently, we can sit back and analyze how the policymakers reacted to the health crisis. Innovations are everywhere.
From the joint debt issuance in the European Union to the American Congress sending people checks – all taboos have been broken. Just like in ESG considerations, where the stakeholders’ interests expand the shareholders’ ones, central bankers expanded their role and the meaning…

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