o  As Palkhivala said, India always seems to find the way, perhaps not quickly and not linearly, but in due course. BIS central bankers’ speeches
To mitigate these risk, US has launched a unprecedented package involving: easing liquidity through special funding windows, cutting policy rate, in five rounds, to 225 bps and providing $ billion fiscal package. This package, while warranted, is fairly controversial because of the associated moral hazard and inflationary consequences of rate cuts and easing of liquidity.