Problem
Describe the bond-purchase program implemented during the recent pandemic. Mary C. Daly, president of the Federal Reserve Bank of San Francisco said "If we need to offer more support or we need to prop up the support that we've offered, we can use Q.E. for that, including changing the duration." Why was a change in duration explored? To answer these questions, start your research with the NYT article Fed Closes Out Wild Year as All Eyes Focus on Bond-Buying Program