Topic: Going Direct

In September 2019, central bankers met in Jackson Hole to discuss a "Going Direct" plan to bypass traditional interest rate channels and inject liquidity directly into the economy. BlackRock was subsequently hired to manage government funds and purchase securities on behalf of the American people. The timing of this financial shift, occurring just before the 2019 repo market spike and the pandemic lockdowns, is presented as a potential method to regroup and print bank reserves.