How To Stop The Recession From Happening Right Now
Odd Lots
Bloomberg
4.5 • 2K Ratings
🗓️ 12 March 2020
⏱️ 40 minutes
🧾️ Download transcript
Summary
The U.S. is on the verge of an economic crisis due to the coronavirus, as people and businesses aggressively pull back on spending. On this week's Odd Lots podcast, we speak with Claudia Sahm, the director of Macroeconomic Policy at the Washington Center for Equitable Growth, about what the government can be doing right now to stop a recession. Claudia has done extensive research on exactly this topic, and now is the moment to put her theoretical work into practice.
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| 0:00.0 | Join us in New York on November 29th for the Bloomberg Canadian Finance Conference, |
| 0:04.6 | proudly sponsored by National Bank of Canada Financial Markets. |
| 0:07.8 | 2023 marks the 11 year anniversary of our Canada focused event and continues the tradition of providing timely |
| 0:13.8 | insights and actionable strategies. We'll have senior government |
| 0:17.1 | officials from Saskatchewan, Quebec, British Columbia, Alberta and Ontario as well |
| 0:21.9 | as speakers from Northland Power, World Bank, Transolta, and many more. |
| 0:26.0 | Register at Bloomberg Live.com slash Canadian Finance slash radio. Hello and welcome to Tracy Allaway. |
| 0:45.0 | So, Tracy All. |
| 0:48.0 | So Tracy, today we are going to have the fastest follow-up to a past guest that we've ever had I think because of |
| 0:56.4 | course we've had some guests a few times or at least twice but this time we were |
| 1:00.2 | talking to someone that we talked to literally just a few weeks ago. |
| 1:03.3 | Yeah, I think that's kind of a marker about how much has changed in markets and the economy in that short time because |
| 1:11.9 | when we spoke to this particular person I think it was |
| 1:14.8 | either late January or early February obviously the coronavirus was a concern |
| 1:20.6 | especially in China but it had yet to really take off in places like Europe |
| 1:26.7 | and the US. Now all of that is changing. People are worried about the economy, and of course, |
| 1:31.4 | we've seen a massive sell-off in markets. |
| 1:34.0 | Right, since that discussion we've had a de facto stock market crash, one of the fastest |
| 1:40.4 | declines ever breathtaking moves day after day, and now extremely serious and |
| 1:46.9 | legitimate worries that a recession could be imminent. So we were talking about a recession |
| 1:52.4 | is a sort of theoretical thing that at some point was likely to come, but now we were talking about a possible recession right here and right now really globally, but also, you know, specifically in the west and in the US. |
| 2:04.4 | Right and of course because we are talking about a potential recession that means |
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