Peter Ganong on the Dynamism and Resiliency of the US Economy
Macro Musings with David Beckworth
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The key takeaway, at least for me, is liquidity really matters here. If you can do something to make it work, more flexibility for households, they can weather some of these storms better. You saw that in the pandemic. In fact, I was just looking at a chart from the New York Fed. It's a household credit report that comes out every month. And there's nothing practically nothing past two years. One of the sharpest recessions on record, high unemployment. And so the policy response was very different and we'll come back to that in a minute, how things were different.
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