One reason why it's hard to dethrone #USdollar is its strong institutional backing. My co-author Tony Zhang is presenting our work highlighting learnings from the Fed's swap line - the largest #FederalReserve liquidity facility with ~half a trillion dollar of lending at its peak
Simona Hannon et. al. find that a dollar spent on Federal #PellGrants—the largest program to help low-income students attend college in the U.S.—creates more than twice as much relative economic activity.
What is certain about uncertainty? @sarisoyc, myself and many others from the Fed Board just released a survey of several different risk and uncertainty measures available in the literature, check it out:
https://t.co/LEK59bG3Hx