Economists are coalescing around the idea that we need a policy response to an "economic pause". Today's links are (mostly) focused around different policy proposals designed to keep the US out of an economic depression.
- U.S. Jobless Rate May Soar to 30%, Fed’s Bullard Says
It's hard to understate how audacious it is for a Fed governor to warn of 30% unemployment and a 50% reduction in GDP Q2.
- The U.S. Shut Down Its Economy. Here’s What Needs to Happen in Order to Restart
- Social Distancing Makes Sense Only With Extraordinary Fiscal Stimulus
- How to Rescue Main Street From Coronavirus Before It’s Too Late
- How to Help American Businesses Endure and Jobs Survive
- Saving small and medium-size business: temporary lending facility needed now
- Do The Right Thing
A scathing deep dive into the stock buybacks and executive enrichment at the four largest US airlines, who're now slated to receive loans from the US government.
- Fed Unveils Major Expansion of Market Intervention
The central bank signaled it would do practically anything—extending loans to big and small businesses, backstopping funds to municipalities and purchasing hundreds of billions of dollars of government debt—to help an American economy in a race against time.