Tuesday, September 14, at 10:30 EDT (15:30 BEST/16:30 CEST)
Carl Weinberg & Rubeela Farooqi
Covid Rebound Morphs Into Sluggish Recovery… Then What?
A year ago, the global economy was in crisis, due to an adverse circumstance—a pandemic—for which no good policy response could be devised. A year later, we have an effective public health response—vaccines—but the global economy is now working to recover from the recession that the crisis caused.
This recession, as Fed Chair Powell told his Jackson Hole audience, was shorter but deeper than any before. It was unique in that aggregate income rose, and also in that it involved a pivot of spending out of most services into goods.
Now what? Our webinar will explore the mechanics of recovery from past recessions, and discuss the factors that make this one different. The spoiler is that full recovery of the labor market after a recession takes years, not months or quarters. If monetary policy is being guided by a goal of regaining full employment, then monetary policy will not be normalized by central banks for years.. not months or quarters.
Please join HFE’s Carl Weinberg and Rubeela Farooqi as we explore the “new normal” for the global economy and the road ahead for policy normalization.
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