The big surprise here is not that central banks acted decisively and boldly when financial markets froze and economic activity plummeted. Given their relatively unrestricted access to the printing press and their high degree of operational autonomy, one would expect central banks to be active and effective first responders.
La gran sorpresa a este respecto no es la de que los bancos centrales actuaran decisiva y audazmente cuando los mercados financieros se paralizaron y la actividad económica se desplomó.