Professor Jeff Frank has been interviewed by Newsweek for their article - A $10 Trillion Corporate Debt Bomb Is Waiting to Explode the U.S. Economy

Professor Jeff Frank observed: 

"The government and the Fed have thrown their entire arsenal at the early stages of the pandemic. The Fed's balance sheet has already jumped from $4 trillion to $7 trillion, an increase equivalent to the total increase during the financial crisis."

Much of this was wasted on demand stimulus measures, when the problem is a supply shock.  Instead, help needs to be targeted to people in need and ‘otherwise successful businesses to bridge the gap during a period when private credit markets will be limited or effectively closed’.

Frank points out that the gap is likely to be ‘measured in years’.

Frank has earlier written on the pandemic and the corporate finance markets in The Conversation: https://theconversation.com/corporate-debt-is-in-serious-trouble-heres-what-it-means-if-the-market-collapses-135371

Frank, who has taught Finance at Harvard and Berkeley, as well as at Royal Holloway, is writing a book on Money for Millennials about the impact of monetary policy on the Millennial and Zoomer generations. 

You can read the Full article here - https://www.newsweek.com/coronavirus-corporate-debt-covid-19-bonds-federal-reserve-1521219.