During the 2008 global financial crisis, US government securities produced the best asset returns despite the crisis originating in the US, because global investors rushed to safe-haven dollar assets, providing exceptional demand for Fed liabilities.
factualpending
Speaker
Peter StellaEvidence Quote
“the best asset class return in I think 2009 2010 was the U.S government securities right...in the U.S you know this Global crisis of people rushed and they're ready to finance the treasury they're ready to finance hold the FED hold the FED obligations”
Source
Debt Death Spirals, Fed's Losses, & Fiscal Theory Of Price Level | Peter Stella & Joseph Wang— Forward GuidanceCreated: 8/10/2026, 10:58:24 PM
My Notes
Loading notes...