Perspectives on the Eventual Economic Recovery
Abstract: The past year with the pandemic has been grueling. Eleven months after the initial outbreak, economic outcomes for individuals and businesses still remain closely tied to finding and implementing effective public health policy. However, with the successful development of multiple vaccines, it is now possible to imagine much better macroeconomic outcomes ahead. My view is that policymakers must work to ensure that the benefits of the eventual recovery are widely shared. As I’ve mentioned, I believe that as we think about recovery from the pandemic, we should take the time to look for ways that our economy can be reimagined for the better with what we have learned during this trying period. We should learn from the challenges that the pandemic brought to the forefront – but were simmering even before COVID-19. And we should capitalize on the opportunities that stem from realizing new ways of working and extend them more broadly to benefit more workers – especially those in low- and moderate-wage occupations – along with employers, industries, and local economies.
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Provider: Federal Reserve Bank of Boston
Part of Series: Speech
Publication Date: 2021-02-19