https://fred.stlouisfed.org/series/PCETRIM12M159SFRBDAL

a.Go back to Economic Synopses. Find publication 2020, No. 23, "Central Bank Responses to COVID-19". Much of this article covers activity that we have yet to discuss in class. Focus on the section title "Asset Purchase Programs" that describes current quantitative easing programs. Answer the following:

i.Does the article suggest that QE programs are a temporary tool being used by major central banks, or something that central banks now use with some regularity?

ii.What types of financial instruments are part of the Fed's current asset purchases? Look for and write out a definition for the second instrument listed in the article.

iii.Does the article suggest that COVID-related QE activity is more or less intense than previous rounds during the 2007-09 financial crisis response?