The Biden stimulus, the Federal Reserve, and the everything bubble
When: March 24, 2021 2:00pm-3:45pm ET
Where: Virtual
Who:
Moderator:
Alex J. Pollock, Distinguished Senior Fellow, R Street Institute
Panelists:
- Jeffrey Frankel, James W. Harpel Professor of Capital Formation and Growth, Harvard University
- Desmond Lachman, Resident Fellow, AEI
- Fabio M. Natalucci, Deputy Director, Monetary and Capital Markets Department, International Monetary Fund
- William White, Senior Fellow, C. D. Howe Institute
In response to COVID-19, the US and other major countries are engaged in an unprecedented degree of budget and monetary policy stimulus. This economic support has allowed asset and credit markets to reach record highs, which many see as a sign that markets are overvalued and overextended. With the end of the pandemic now in sight and more stimulus forthcoming, higher inflation will likely add a degree of uncertainty to previously easy global financial conditions.
This event discusses the inflation and financial market risks of the current stance of US fiscal and monetary policy, focusing on the potential effects of President Joe Biden’s stimulus plan and reactionary central bank responses.
