This is exchanges at Goldman Sachs, where we discussed developments currently shaping markets, industries in the global economy.

I'm Jake Stewart, Global Head of Corporate Communications here at the firm.

Recently, Congress approved a sweeping $1.9 trillion coronavirus relief package

called the American Rescue Plan.

The plan authorizes federal spending in the form of another round of stimulus payments

for most Americans, additional unemployment aid to those out of work,

and also make some changes to the tax code to help

families with children. This on top of two prior stimulus packages. Today we have

a special episode where we'll dive deeper into the impact of this influx of

stimulus on the economy and its impact across markets. To do that I'm joined by

four different guests from different divisions here at Goldman Sachs, Alec Phillips

of Goldman Sachs research,

Amelia Garnett of our Global Markets Division, Susie Schur of our Investment Banking Division,

and a Shishah of our Asset management division.

Our first guest today is Alec Phillips, chief political economists from Goldman Sachs research.

Alec is here to talk about the economic implications of the stimulus package that was just signed into law.

Alec, welcome back to the program.

Thanks.

Glad to be here.

So as I just mentioned, Congress recently passed the $1.9 trillion American Rescue Plan, the last in a series of economic stimulus plans.

How does this compare to the stimulus you'd been forecasting and where's the money going?

Yeah, so, you know, I think by the time we got to the final stages, we knew it was going to be pretty close to what the president had initially laid out. I mean, I think it was actually, you know you know in any ways surprisingly close to what the

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