Impacts of the Pandemic on Money and Digital Payments in the USA
Objective: Demonstrate the impact that a crisis, specifically the Pandemic of 2020-21, impacts money and the digital payments system in the USA.
Primary questions to be answered include:
What is money, and the money supply?
Who are the 3 major players who influence the money supply, and what are the primary measures of money — M1 and M2 00 and how have those totals changed between January 2020 and January 2021 [Hint: Use the Released from the Federal Reserve]
What actions, if any, did the various participant employ that impact the economy and the money supply. For example, did depositors change how they paid for transactions — currency versus credit/debit cards? What about depository institutions, and or the Fed?