Jason Furman on the Threat of Inflation, Prospects for the Economy, and Turmoil in the Banking Sector
Conversations with Bill Kristol
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The Unprecedented Economic Crisis
I think too little was done in the global financial crisis and as a result the unemployment rate was too high for too long. The COVID shock is like nothing we've ever seen before in terms of just literally in a hundred years we hadn't seen this many countries in the world have negative growth simultaneously. I'd probably rather have the error of too much rather than too little but I do think there is a happier medium between too much and too little which is sometimes called just right, he says.
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