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Covid-19 and the economy, part three: the USA

Wednesday 13 May 2020 at 7:00 pm - 8:30 pm

- Free

When members of the US Federal Reserve met in late January, they expressed confidence in the country’s ability to stretch a record run of economic growth and job gains well into 2020. Indeed, 2019 had seen strong performance in certain indicators, including rising real incomes among lower-earners. Two months later, the US was in a coronavirus lockdown, and the economy was in freefall. Some 34 million jobs have been lost, and GDP is expected to decline by 35% or more in the second quarter.

In response, Congress has spent more than $2 trillion in aid. And in an attempt to counteract the economic crisis, the Fed has reduced interest rates to near zero and introduced a huge expansion of its quantitative easing programme.

What are the prospects for the US economy to recover? Pre-Covid, was the economy as robust as commentators claimed? Does the crisis provide an opportunity for the US to address its weaknesses? Will government spending have a positive effect, or will a debt overhang be an obstacle to recovery? Will the Fed’s easy money policy work? And, what will the US’s economic problems mean for the world economy?

Watch the discussion

 

SPEAKER

James Matthews
New York-based management consultant; commentator on the US economy and business; former economic forecaster

Details

Date:
Wednesday 13 May 2020
Time:
7:00 pm - 8:30 pm
Cost:
Free
Event Category:

Organizer

AoI Economy Forum

Details

Date:
Wednesday 13 May 2020
Time:
7:00 pm - 8:30 pm
Cost:
Free
Event Category:

Organizer

AoI Economy Forum