Pandemic Policy Hasn’t Always Seized The Moment

Northern Trust
By June 4, 2020 16:46

Pandemic Policy Hasn’t Always Seized The Moment

Weekly Commentary

Timing is everything. We want to hit the road just ahead of rush hour. We enjoy perfectly ripe fruit, and a perfectly cooked steak. (And a perfectly aged wine to go with it.) We seek to deliver jokes with just the right cadence so that a gathered group stops to laugh out loud. Getting the timing right is not always easy, but the rewards can be ample. The poor pacing of some recent economic interventions, however, is no laughing matter. Vast tracts of the global economy came to a stop during the month of March. Large numbers of people were forced to work from home (if they could) alongside children engaged in distance learning. Many were furloughed from their jobs, with no certainty about when (or if) they would be called back. Fortunately, policymakers tried to gear their actions to match the rapid and massive downturn in activity. Legislatures passed emergency spending measures with impressive speed, at an impressive scale.

Northern Trust
By June 4, 2020 16:46

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