In this clip, Professor Mark Blyth and Professor Adam Tooze explore the Federal Reserve as the dominant actor in moving markets at this unprecented juncture. They analyze how coronavirus is laying bare the hidden risks embedded within our financial systems and how central banks worldwide are scrambling to paper over those chasms of danger. To them, it seems that the Federal Reserve has rewritten its remit, and they discuss how rather than try and keep prices stable or keep unemployment low, the sole focus of the Fed right now seems to be supporting asset prices at any cost, even if that means bailing out leveraged entities who took on too much risk. They also explore how the Fed’s central bank swap lines are affecting markets worldwide, specifically in Turkey. Mark Blyth is the William R. Rhodes ’57 Professor of International Economics and Professor of Political Science and International and Public Affairs at Brown University. He is the author of “Austerity: The History of a Dangerous Idea” and the upcoming book “Angrynomics” with Eric Lonergan. Adam Tooze is the Shelby Cullom Davis chair of History at Columbia University and serves as Director of the European Institute.