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“The Fed Can Lend To Anybody”: Watch Live As Bernanke Holds Virtual Discussion On US Economy

Courtesy of ZeroHedge View original post here.

None other than the man who saved the world, and "contained" subprime, is holding a Q&A live (over Zoom)…

In his prepared remarks, former Fed Chair Ben Bernanke suggested US GDP could shrink 30%-plus annualized in Q2 (while playing down any comparisons between the lockdowns and The Great Depression, although he does believe we may see an emerging market crisis and global recession;

He believes that much of the recent explosion in the Fed balance sheet is temporary, that there will be more fiscal help coming, and said that "The Fed can essentially lend to anybody" based on its emergency powers.

Finally, Bernanke admitted that he is not expecting a sharp "v-shaped" recovery in the economy.

Bernanke is expected to speak until around 1345ET:

 


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