The Daily

Can Government Spending Save the Economy?

May 18, 2020

Ben Casselman, an economics reporter for The New York Times, joins Jerome H. Powell, Chairman of the Federal Reserve, to tackle the pressing economic crisis. They discuss the alarming rise in unemployment and the urgent need for government intervention to prevent long-term damage. Powell emphasizes the necessity for Congress to provide fiscal support, even at the cost of increasing national debt. The conversation reveals the contentious divide between Democrats and Republicans over relief measures, highlighting the challenges of political action during this unprecedented time.

25:23

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Episode guests

Jerome Powell

Ben Casselman

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Episode notes

Intro

2min

Economic Fallout of the Crisis

9min

The Federal Reserve's Call for Economic Action

2min

A Breakthrough in Cardiac Surgery: Overcoming the Odds

1min

Divided Response: Economic Relief in Crisis

12min

Exploring New Thrilling Narratives and Cutting-Edge Technology

2min

A Call to the Next Generation in Uncertain Times

2min

As the American economy plunges toward a recession, economists and policymakers are triaging proposals to stanch the bleeding. All of their ideas will cost money the government doesn’t have. That leaves Democrats and Republicans with two major questions: How much should be borrowed for bailouts — and what spending is needed to avoid permanent economic damage? Guest: Ben Casselman, an economics reporter at The New York Times.

For more information on today’s episode, visit nytimes.com/thedaily

Background reading:

Jerome H. Powell, the Federal Reserve chair, has urged Congress to spend more on economic relief — even if doing so means increasing the federal deficit. He warned that the United States was experiencing an economic hit “without modern precedent.”

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