The Fiscal Policy Response to COVID-19

The coronavirus pandemic has upended American capitalism and forced the federal government to spend unprecedented sums of money to support struggling consumers and businesses. Thus far, Congress has enacted four separate pieces of legislation, costing approximately $2.4 trillion, with many arguing that more is needed to prevent Great Depression levels of unemployment and reduced economic activity.

In this episode, Vanguard's global chief economist, Joe Davis, talks about the efficacy of the fiscal policy response to date and what more can, and should, be done. Joe also discussed the Federal Reserve’s actions and his view on negative interest rates.

You can find Joe’s recent blog post on the employment retention tax credit here: https://vanguardinstitutionalblog.com/2020/06/02/a-third-line-of-defense-for-the-u-s-economy/

Want to contact the show? Reach out at reiners@law.duke.edu

Interested in learning more about issues in financial regulation and policy? Check out the Global Financial Markets Center’s blog, The FinReg Blog.

You can learn more about the Global Financial Markets Center by visiting our website: https://law.duke.edu/globalfinancialmarkets/