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

Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.

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.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Michaels keeps stores open, and CEO memo explains why - Business Insider'I am asked on a daily basis by customers why we are still open,' a Michaels manager speaking on the condition of anonymity told Business Insider. The virus makers? They must be teetering on bankruptcy already
Source: BusinessInsider - 🏆 729. / 51 Read more »

Coronavirus stimulus package explained: What a bailout is — and isn't - Business InsiderHere's what a bailout is, what could be included in the one to address the coronavirus fallout, and a look at past bailouts in the US. Smells like socialism? ¯\\_(ツ)_/¯ a fraud and conman and white-collar criminal?
Source: BusinessInsider - 🏆 729. / 51 Read more »

Coronavirus: Tech startups in Portugal join forces to fight off virus - Business InsiderMore than 100 startups in Portugal are helping fight COVID-19 and it's a model other countries can follow
Source: BusinessInsider - 🏆 729. / 51 Read more »

Macy's CEO tells employees he won't be paid during the coronavirus crisis - Business InsiderIn an email to employees on Wednesday, CEO Jeff Gennette said the company must take 'unusual measures to conserve cash throughout the crisis.'
Source: BusinessInsider - 🏆 729. / 51 Read more »

Coronavirus pandemic: Ford won't restart North American end of March - Business Insider'Ford's top priority is the health and safety of our employees, dealers, customers, suppliers and other stakeholders,' the company said.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Mark Cuban urges ignoring billionaires pushing for a return to work - Business InsiderBillionaire Mark Cuban says people should 'ignore anything someone like me might say' about sending employees back to work because 'lives are at stake' Mark Cuban is positioning himself for a presidential run
Source: BusinessInsider - 🏆 729. / 51 Read more »