Finance Secretary Janet Yellen and Federal Reserve chair Jay Powell appearing together before Congress representing a common sense outbreak (Report, March 24).
Treasury secretary gives “downward guidance” down-to-earth on how the US economy will be rebuilt, as it will be paid, with Powell confirming that bond markets are not going to falter of those plans.
The extent of the economic devastation from the pandemic has not yet been revealed. U.S. policymakers take this seriously. Repetition should not be dismissed prematurely on the basis of old economic models, and the spread must spread to all segments of the population. U.S. policymakers are also shifting to giving credit to emerging markets, thus avoiding embedding in the world economy.
Are central banks and other finance ministries going to accept the new reality? At the heart of a talk bank they should make a full-fledged domestic product as a policy goal within a timeframe that takes into account the growth lost in the last decade and the need for a next -promoting animation, globally, over the next decade.
Viara Bojkova
Chris Dixon
Michael Lloyd
Sam Whimster
Global Policy Institute
London E1, UK