Central banks: the economy’s emergency responders


In the third quarter of 2017, the Caribbean and east coast of the US were battered by what was arguably one of the worst Atlantic hurricane seasons seen in decades. Hundreds of people died, whole towns were destroyed, and communities were left without power. But underneath the obvious devastation was further economic chaos.

One of the worst-hit areas was Puerto Rico, which was affected by not one, but two tropical storms within months. Hurricane Irma bought deadly storm surges, while Maria

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