Nick Timiraos
speaker
252 appearances
6 recordings
1 series
first heard Sep 2017
last heard Nov 2024
Nick Timiraos’s voice in public audio — every appearance, attributed to the second.
Trend
recordings per month · last 12 monthsNo recordings in the last 12 months.Older appearances are listed below; set an alert to hear about the next one.
Appearances
And so if that continues, again, people like Eric Rosengren are warning of severe economic consequences because policy response isn't going to be able to offset all of the losses that the economy will incur here.
If you go back to March, which was when we saw a lot of aggressive action from the Fed and also from Congress and the White House on fiscal stimulus, all of that action we were
spending money, we were buying bonds, we were getting yields down.
It was done with an eye towards building a bridge measured in months, weeks, maybe months, out to say June.
And that would give us time to fight the virus, keep everybody indoors, keep people working at home, and really limit the spread of this thing.
And then hopefully we would turn things on and activity could slowly come back.
What ended up happening is that activity came back in some places maybe sooner than people thought, but instead now we're stuck with virus counts that are higher than they were back when we did all of that.
And so everybody's going back to the drawing board here and saying, gee, this is going to be now more expensive, longer lasting, and it raises concerns about things that we weren't having to worry about back in March.
For example, if people aren't paying their rent, if landlords aren't collecting rent, that could put stress on
on businesses that puts stress on the banking system.
So there's a ripple effect here.
It's something that they don't like to do.
Right.
So whenever the Fed Chairman Jay Powell is asked about, well, what should Congress do?
He normally likes to retreat and kind of this safe, comfortable space of, well, that's not our job and we don't tell Congress what to do.
But over the past few months, we've heard him get a little bit more vocal.
And we've heard other Fed officials signal a couple of areas where they do think it would be harmful if the economy doesn't have more support.
And one of those is on having some kind of income replacement for people who are going to be unemployed for longer because the industries they work in just aren't going to come back anytime soon.
All along, the Fed has been saying loans can only do so much.
Companies that have a lot of debt, it's going to be really hard to help them by giving them more debt.
Showing 121–140 of 252 · page 7 of 13
← Previous
Next →