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FT News Briefing

Martin Wolf looks back at the pandemic one year later

FT News Briefing

Forhecz Topher

News, Unknown, News & Politics, Daily News

4.41.2K Ratings

🗓️ 11 March 2021

⏱️ 11 minutes

🧾️ Download transcript

Summary

President Joe Biden is eyeing a multi-trillion-dollar infrastructure package for the US. Plus, the FT’s chief economics commentator, Martin Wolf, examines how well governments and economic policymakers have handled the economic crisis stemming from the coronavirus pandemic. 

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Transcript

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0:00.0

Good morning from the Financial Times. Today is Thursday, March 11th, and this is your FT news briefing.

0:08.3

The U.S. Congress approved Joe Biden's $1.9 trillion stimulus bill yesterday.

0:13.1

Now, the Biden administration is moving its focus to infrastructure.

0:16.9

And exactly one year ago, the World Health Organization declared the COVID-19 outbreak a pandemic.

0:23.1

More than two and a half million people are so far known to have died from the virus,

0:27.8

and governments are struggling to rebuild their economies.

0:31.3

Still plausible that we will feel the economic consequences well into next year and almost certainly,

0:39.2

in fact, 2023 and 2024 as well. The FT's Martin Wolfe joins me for a look at how

0:45.2

governments have been responding. I'm Mark Filipino. Here's the news you need to start your day.

0:50.5

Now that Congress has passed Joe Biden's $1.9 trillion stimulus bill,

0:59.2

the president is moving his focus to a multi-trillion dollar infrastructure package.

1:04.2

It would overhaul creaking bridges, crumbling roads, and build broadband networks.

1:08.9

Democrats want to bill with bipartisan support, unlike the stimulus bill.

1:13.4

But to do that, they may have to make some compromises on issues like climate change and racial equity.

1:19.2

The FT's U.S. politics and business correspondent Courtney Weaver is covering the president's

1:23.5

efforts. So right now, he's been talking to members of Congress. He's been talking to labor

1:28.2

leaders. He's trying to see where kind of the areas of support are for something bipartisan.

1:34.4

And it's kind of interesting hearing the kind of answers he's getting so far from the center and

1:38.4

from the left. On the one hand, you have kind of moderate senators like Joe Manchin from West Virginia

1:44.0

saying after the stimulus bill, which passed along party lines, they really want something

1:48.4

bipartisan. And on the other hand, you have progressive saying, hey, we have control of the Senate,

1:53.6

we have control of the House, we have control of the White House. Let's do something bigger,

...

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