Academy of Ideas's video: Covid-19 and the US economy

This is a recording of a discussion hosted by the Academy of Ideas Economy Forum on Wednesday 13 May 2020: http://academyofideas.org.uk/events/archive/covid_19_and_the_economy_part_three_the_usa When members of the US Federal Reserve met in late January, they expressed confidence in the country’s ability to stretch a record run of economic growth and job gains well into 2020. Indeed, 2019 had seen strong performance in certain indicators, including rising real incomes among lower-earners. Two months later, the US was in a coronavirus lockdown, and the economy was in freefall. Some 34million jobs have been lost, and GDP is expected to decline by 35% or more in the second quarter. What are the prospects for the US economy to recover? Pre-Covid, was the economy as robust as commentators claimed? Does the crisis provide an opportunity for the US to address its weaknesses? Will government spending have a positive effect, or will a debt overhang be an obstacle to recovery? Will the Fed’s easy money policy work? And, what will the US’s economic problems mean for the world economy? James Matthews introduces. All Academy of Ideas online events are free - if you are in a position to be able to donate, we’d greatly appreciate your support: http://www.academyofideas.org.uk/donate