January - August Crimson Contagion:

Crimson Contagion was a simulation administered by the U.S. Department of Health and Human Services from January to August 2019 that tested the capacity of the U.S. federal government and twelve U.S. states to respond to a severe influenza pandemic originating in China.

September Stress in dollar repo markets: passing or structural:

After the debt ceiling was suspended in early August 2019, the US Treasury quickly set out to rebuild its dwindling cash balances, draining more than $120 billion of reserves in the 30 days between 14 August and 17 September alone, and half of this amount in the last week of that period.

The Federal Reserve further announced on 11 October the purchase of Treasury bills at an initial pace of $60 billion per month to offset the increase in non-reserve liabilities (eg the TGA). These ongoing operations have calmed markets.

October Event 201

Event 201 was a 3.5-hour pandemic tabletop exercise that simulated a series of dramatic, scenario-based facilitated discussions, confronting difficult, true-to-life dilemmas associated with response to a hypothetical, but scientifically plausible, pandemic.

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