Economic policymakers have moved aggressively to counter the threat to economic stability by, in effect, filling some of the gap in private lending and spending with government lending and spending.
Because the disruptions in the economy have been so closely related to problems in the financial sector, many of the policy measures have been focused on financial institutions and markets and on countering the tightening of financial conditions that occurred as lenders became more risk averse and took steps to conserve capital and liquidity.