Ian Bremmer: COVID-19 Economic Shock & What's to Come: Domestic, Global Decisions
May 08, 2020
The Great Depression proved a turning point in American policy. What will be the applicable lessons for this coronavirus crisis in 2020 and beyond? Ian Bremmer discusses.
Even before the coronavirus crisis hit, 40% of Americans said they would have difficulty paying an unexpected bill of $400. Since then, tens of millions of Americans have lost their jobs. Is the US headed for a 2nd Great Depression, as economists such as Joseph Stiglitz suggest? We've had to shut our economy down to slow the spread of the coronavirus. Will there be appetite for a new, New Deal? This crisis is different, with 2 emergency rate cuts from the Fed. And what will happen globally, where a multilateral solution will be more challenging?