Monday, May 18, 2020

Federal Reserve Chair Jerome Powell Discusses The Economic Crisis and Policy

There is a lot of information in this video as it pertains to economic policy. Liquidity in the market helps keep businesses going and further keep people on the payrolls. It doesn't necessarily change the fundamentals of the market but does create more trust that people can get through this and get the help they need. The true issues are the disruptions to our normal commercial patterns. Buying time helps us stay "right sided" as an economic ship for a while but it will only be for a time as the damaged seems take on water. We can bail, pump and work together to whether the short term crisis but we must patch those holes, modify our rigging and open our sails to the skies if we are going to reach our destination.

Our recovery relies on a number of important things.....

1. Adapting our economy, businesses, education, infrastructure, build the fastest, leanest, and most adaptable vessel on the planet. Its hard to navigate rough weather if your ship hasn't been updated, old rigging, and deferred maintenance.

2. Finding a vaccine that will help us return to "normal" not forgetting this can happen again if we do not take care of our environment and our health. A clean ship with healthy crew is more resilient to disease and crisis.

3. Building trust with all Americans around core motivating values that fully unleash our amazing innovative creative human capital. Our crew should all believe in their American mission and be treated as valued members.

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