Joy Wiltermuth
Joy Wiltermuth
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Exclusive: Fed is ‘throwing money in the wrong place,’ says Sheila Bair, former top banking regulator

Exclusive: Fed is ‘throwing money in the wrong place,’ says Sheila Bair, former top banking regulator

Sheila Bair, a top U.S. banking regulator during the 2007-’08 global financial crisis, said the Federal Reserve needs to quickly shift its focus to getting credit flowing to U.S. businesses crippled by the spreading coronavirus and workers losing their jobs.“They are throwing money in the wrong place,” Bair said of an unprecedented move by the Fed on Sunday to Treasury- and mortgage-bond buying program.“This isn’t a financial crisis — at least not yet,” she told MarketWatch on Sunday evening following the Fed’s announcement, which drops the target U.S. benchmark rate to zero and aims to...

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Joy Wiltermuth
Mar 16
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