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The U.S. Federal Reserve and the Federal government are working aggressively to implement policies to address the financial crisis tied to the spread of Covid-19. Most recently, Americans across the country began receiving checks to recoup losses in their incomes and the Fed said it would serve as a backstop for the junk bond market, announcing it would for the first time purchase corporate bonds including those in junk territory.  Such government actions has triggered a cacophony of criticism, some of whom argue the stimulus doesn't go far enough to address mounting unemployment. Others say the Fed's action could result in a surge in inflation. In an episode of The Scoop, legendary macro investor and founder of Real Vision Raoul Pal joins The Block's Frank Chaparro and Ryan Todd to examine the current macro backdrop. Pal argues that the impact of Covid-19 on consumer of behavior—including a dip in spending on concerts and restaurants—is not being truly appreciated by the markets. In this episode we also explore: Why stimulus up until this point is "papering up the cracks" and won't be enough to sustain the economy through the Covid-19 storm What he would do if he ran the Fed Why people should be worried about deflation, not inflation How the "dollar is going to break the global system" and how that could benefit Libra or bitcoin  Episode 13 of Season 2 of The Scoop was recorded remotely with Frank Chaparro, Ryan Todd and Raoul Pal, CEO and founder of Real Vision.