Shifts in the management of the global financial and monetary system in a pandemic

Abstract

The article examines the most important steps taken by the Fed and other central banks in the face of the onset of the pandemic. Their actions, mainly the Fed, helped to soften the shock to the global economy. One can even say that the American financial system has been rebuilt in a mobilization manner. At the same time, such restructuring began even before the onset of COVID-19, what allows us to conclude that the monetary authorities, under the guise of a pandemic, accelerated measures to actually reformat financial markets. Something happened in the global financial system that required completely unprecedented measures, and not only on behalf of representatives of the world’s largest banks, who were still associated with the Fed’s shareholders, came to the fore in their development and implementation, but representatives of the largest investment groups such as BlackRock, Vanguard Funds, Fidelity Investments, State Street Global, Goldman Sachs.