Mester Says Fed Shouldn't Be Too Concerned With Moral Hazard Right Now

The transcript discusses the current market risks, particularly in the high yield space, and the Federal Reserve's unprecedented measures to mitigate the economic shock caused by the pandemic. It highlights the Fed's role in supporting firms affected by the virus and the importance of avoiding permanent damage to the economy. The discussion also touches on the moral hazards of these actions and the need for a strong recovery.

What are the risks associated with high yield space mentioned in the text?

How has the Federal Reserve's suggestion influenced market behavior?

Why is it important to mitigate the negative impact on the economy during the pandemic?

What unprecedented actions is the Federal Reserve taking to support the economy?

What is meant by 'fallen angels' in the context of corporate debt programs?