Austan Goolsbee on virus economics and why regular stimulus won't work - Business Insider

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Goolsbee says Trump is not doing well in terms of credibility in handling this crisis. In dealing with the Great Recession, he remembers Paul Volcker always saying credibility is the only asset you have during a crisis. We'd be a little scarred, but that's kinda the best-case scenario, that it's sort of like the beach town during the winter: They board up the windows and then it gets warm again and everybody comes back.

Step two, I think it's misleading that they're calling this a "stimulus package." They should call it a "relief package" because it's aiming at trying to do what you need to do next, which is cover the bills so nobody starves, nobody has to liquidate everything just because of this hopefully temporary slowdown.

Okay, what the Fed is doing is following on the traditions of Bernanke and Yellen and the unconventional monetary policies. I think the second thing that's happening with the Fed — is the Fed is kinda drifting into the netherworld of doing fiscal policy. You can see that in this rescue package. From what we read so far, there's going to be unlimited or very large lending facilities and they're going to try to turn it over to the Fed to do it.

I think the paid sick leave idea, as I described before, I think is an important idea. I think money for the people who do lose their jobs is an important idea.

No advice warranted from anyone from the useless crooked BarrysRegime.

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